Your OWN (!) Biden-Bankruptcy
The corrupt regime mortgages your family's future into oblivion
My last essay here was about “Bidenomics” and the regime narrative according to which only right-wing conspiracy folks aka “Ultra MAGA” can claim that there’s a problem with the economy. Look, all the jobs we created, the rising GDP, and inflation recedes, too.
Just from looking at some basic numbers, officially provided by the federal government itself and published on the Federal Reserve’s website, this much became clear:
It took the Biden regime until now, over 3 years, to just barely recover the job numbers from before the China virus devastated the economy.
The recovery was super speedy in the last months of the Trump Presidency, but then it got actually undermined and slowed down endlessly under Biden with his blue (or green) policies cabal.
There are less US-born workers now than before; only foreign born folks (immigrants) have some increase, but that is easily explained by the millions of additional people living in the country now, so that’s not some economic miracle or even worthwhile achievement of this administration.
Real household incomes after inflation have fallen significantly.
The inflation, which devaluates your hard earned dollars ever further, has reached roughly 20 percent over just 3-plus years under Biden, for many fundamental needs even more, like for food and fuel. Mortgage rates have gone completely through the roof.
But that, while all devastating and deeply disappointing, was not even the main insight. Not the worst thing to blame the Biden regime for. Which is the fact that
the situation is looking so bleak for so many millions of regular working and middle class people DESPITE the unbelievable amounts of money that the regime is pumping into the system, both by “printing” money and taking up ever more federal debt.
Exactly because the numbers are so huge and far beyond the imaginative powers of almost anyone, it’s actually not that easy to get the point across, to make it really understood. And because these things occur on a very abstract level; it’s almost like some astronomer on the TV telling you stories about distant galaxies, and black holes, and “bent space” according to relativity.
While on the the other hand, it’s not necessarily rocket science level difficult. That’s what the regime would have you believe. Trust the experts, we have everything under control and know all the tricks to keep it going nicely, even if you rubes can’t understand the magic.
In fact though their tricks are fairly cheap and transparent, even brazenly in everybody’s face. And behind the smoke screen put up with the help of the lying legacy media, there’s plain destruction and decline going on, rapidly down the drain. Which so many people know and feel in their lives, just from doing groceries, paying insurance premiums, looking at their credit card balance. — That’s what Steve Bannon cites as “lived experience”, taking an ideologically messed-up term from the academic left and turning its meaning from upside down to firmly back on the ground.
Crime vs. non-crime
Now before we dive into the big money numbers and what they actually mean for the people, let’s jump to something entirely different for a moment. We might just discover another meaningful connection, reach another fundamental conclusion. At least as important as the insight that the pathetic economy and the exploding federal deficits and debt are closely connected, in a truly bad way.
Let’s look at the case that the corrupt NY AG brought against President Trump, where he and his real estate business allegedly committed some kind of “fraud” when he borrowed money from big banks for his developments, told them what his plans were and what securities he possessed. As you know, all went smoothly, the banks were lucky to have Trump’s empire as a key customer, they took huge profits from the loans – all of which were paid back in time reliably.
Perfect business as it should be; yet the NY prosecutors got the corrupt judge to rule that Trump had somehow, mysteriously, “defrauded” the banks and fined him with several hundred million dollars. An egregious abuse of the judicial system, a fascistic assault on the opposition leader, like in a 3rd world Banana Republic.
Now where’s the connection to what I related first, about Bidenomics? Can you guess? Any hunch lingering subconsciously and just about to burst into full daylight?
The magic word here is “fraud”. Trump was (wrongfully) found guilty of practically lying about his economic situation, and thus deceiving the banks into lending him money at conditions that might have, with a little less luck, turned into a disastrous outcome for them. Never mind the banks attested to the contrary and renowned scholars told the judge that Trump’s financial disclosure documents were school book perfect.
So here’s the surprising … or is it? … insight / reflection: the Biden regime and its minions and mouthpieces are lying about the economic situation, brazenly and whole-sale, for which the federal government is fully responsible, they are deceiving the general public into trusting their schemes and granting them ever more money, and political power, which will translate in even more money for their corrupt purposes and the wallets of their cronies.
If that’s not fraud on the highest conceivable level, the word has lost its meaning.
The Biden regime needs to be investigated and exposed for what is at least a crime against the American people, politically. And since the globalist establishment has been making into a crime what they dislike politically, the Biden regime ought to be criminally prosecuted, too.
When it’s a crime, for which people are sent into gulag prisons endlessly, to protest peacefully at the Capitol or for the sanctity of life across the street from an abortion clinic, or for sharing spicy “memes” on the internet, it surely is a crime to lead the country into bankruptcy while pretending that everything is just fine.
The biggest theft ever
It’s two crimes, actually. The first: leading the country … wantonly … into what for any private entity would be bankruptcy, or insolvency. The second: lying about it, covering up for it, drawing out / protracting the process instead of honestly confessing about the mess and somehow cleaning it up.
Not bankrupt, meanwhile, is the Biden crime business family, bribed to the hilt. Well, they are morally bankrupt. Just as the insiders in the DC sewer getting rich miraculously through “serving the people”, by pure corruption and insider trading, literally. So there’s more crime, technically and more importantly politically speaking.
In the big picture, speaking about the bankruptcy of the whole nation that they all precipitate, it’s not just a fraudulent scheming and behavior, entirely depending on constant lies and propaganda, aggravated by high levels of astounding utter incompetence and malfeasance.
It’s also some kind of theft on the highest level, because the regime is in effect stealing from the huge majority of people.
I’m not talking about taxes in general. While they are often depicted as the government stealing money, in reality every government does legitimately need money in order to do what actually needs to be done. Even if you’re just thinking about police and fire fighters, maintaining streets and sewage systems, and the most basic tasks of the public infrastructure.
But the currently ongoing public spending spree on unprecedented levels combined with inflationary policies devaluating people’s earnings and savings, massively, that actually amounts to stealing. Not just of money, but of a sustainable future for the whole country. It is the biggest robbery ever, short of genocidal actions (like moving towards WW III).
They rob the people, their kids and grandkids, of their chances and their god-given right to their individual pursuits of happiness.
Basic numbers, 1-on-1
Since the regime types will keep covering up their ugly deeds under blankets of pathetic propaganda, the people must do the investigation, and expose the political crime that should, at these levels of corruption and grandest-scale embezzlement, lead to judicial persecution, too.
For that, we just need to look at some basic numbers. Not getting lost in the details, debating about some fractional digits, or whether some statistical number might be over-estimated by some percentage points. It’s about the orders of magnitude and rough equivalents.
As discussed in my previous piece, here are two basic numbers:
A) The federal deficit,
… meaning the amount of money getting spent annually by the government that isn’t backed up by taxes etc., so it needs to be mostly taken from the credit market (financial / banking systems), including international lenders, among them doubtable entities … even arch-enemies … like the CCP.
The regime is of course trying to obfuscate, including with accounting magic, and make the number look smaller than it actually is; anyway the annual deficit is now at least some place between 1.5 and 2 TRILLIONS of dollars, which numerical range is consistent with “projections” by the Congressional Budget Office.
Latest numbers circulating now even in legacy media plausibly claim that the deficit is reaching two and a half trillions per year, and even more than that. According to great macro economics educator Steve Bannon on his daily show, we’re at a point where the entire system is (close to) spiraling out of control.And there’s no way it’s “only temporarily” either, to the contrary. It should have been temporary, but that’s exactly where the Uniparty jumped on the opportunity and made … out of an already overweight Big Government … a morbidly obese one.
The Biden regime is keeping spending levels up where they got … unavoidably, to a degree … through the “Covid” lockdown mess, even though that “pandemic” emergency is long over. That’s like you taking prescribed medicine while you’re sick and keeping up the drugs long after you’re officially healed. That’s what hides behind the “continuing resolutions” and the infamous “omnibus bills” cooked up by the crooks on Capitol hill.
B) The accumulated and rapidly rising federal debt,
… which is now roughly at 35 Trillions of dollars. For this debt, interest must be paid. The fee, as it were, for not yet paying back the debt, just for keeping the money (which there’s little opportunity to ever actually recoup honestly).
Even with average interest rates (for federal bonds etc., which are practically IOUs) at “only” 3 percent … and actually, they are much higher currently for newly issued bonds … that amounts to annual payments at the 1 complete Trillion mark. Which is more than the government needs for building and maintaining the mightiest military on the planet. Go figure.
Basically, from the … let’s say conservatively … 2 Trillions of the annual deficit, or surplus spending, one half goes into the interest payments for the already existing debt. The second Trillion is getting pumped into the system for unsustainable, ideologically motivated programs.
Much of the “first Trillion” though is going into the US economy, too, because the lenders who cash in on the payments take their profit and use it for something. They don’t buy gold coins and store them into some gigantic safe, in order to bathe in them like some crazy Uncle Scrooge. The money is floating around the system, for investment or consumption.
Remember, only through these crazy amounts of quasi made-up money from the government is it possible that the crumbling economy still statistically looks kind of almost OK, which it actually isn’t, as I’ve pointed out the last time abundantly.
Some of the money might “get lost” abroad, but then that would be a wrong policy outcome, too.
Most of the money though keeps moving the domestic economy, pushing up spending, production, jobs and thus GDP numbers.
When we account for the effects of the surplus / deficit spending that unavoidably must happen and undoubtedly DO happen, the “real economy”, without that kind of artificial boost, is actually collapsing.
Some commentators make it look like the deficit spending is only producing mediocre GDP increases. That's kind of misleading and too narrow though, a perspective where they bury the actual lead, which is the statement above.
The complete GDP is practically a sum: of a smaller portion consisting of what is only coming through the deficit spending and the much larger belly of the iceberg, the regular real economy, and this main body is losing volume and strength precipitously.“Math” for beginners
Now let us at last break down the aforementioned numbers, roughly, in order to fully expose just how fraudulent, malevolent, insane it is what the Biden regime is perpetuating, in their ongoing crime against the American people:
1 Trillion, that is 1 million TIMES 1 million, or of course a thousand times 1 Billion.
1 Trillion, divided by roughly a third of a billion people living in the country (and constituting it!), that equals 3,000 per capita.
Meaning, for each and every single person living in the country, 3k additional dollars get spent within just 1 year, money that isn’t really available.
Which translates into 250 bucks per capita and month. Not peanuts for most households, at all, when so many barely make ends meet, living “from paycheck to paycheck”. With a family of four, statistically, the household would have to come up with a thousand bucks per month, just to make up for the additional 1 Trillion of deficit spending. That’s not even thinkable. But wait, it gets worse.
Because actually, a huge majority of the people don’t actually have any income, or not nearly enough for giving any, let alone more of it away to the government.
We would be very generous … in favor of the governmental schemes … when we presume that there are 50 million working-age (!) people having jobs that are nicely enough paid, significantly above mere survivability level, so that they might somehow be able to afford the necessary taxation by the government.
Now the 1 Trillion, divided by 50 million, results in 20k dollars per year and such working adult person. Or if you like it better per month, that would be roughly 1,700 dollars. – Not a joke, or calculation error.
If you’re some DEI officer on the public dole, “earning” (LOL) like 150 up to 200k per year, even then the 20k for the surplus spending alone would be somewhat annoying, right? But that’s utopian income levels for most of the middle class.
Remember, we assumed that government spending would have to be backed up by those 50 million workers (or employees etc.) in the upmost levels of the social strata, but that’s still much, much more regular people than just a small elite of high-income post-college degree types and outright wealthy people.
Overall, median household income (yet with more than 1 earner on average!) is some place near 80k. In relation to that, 20k per year … again: not for all of federal spending, only for half the deficit part of it! … are an insane amount. To call it unsustainable doesn’t even come close to the naked unadulterated economic reality.
America seems on the way to look like Argentina soon. Or worse. The Weimar Republic (Germany between the World Wars, before Hitler) does come to mind.
It’s your money!
The government doesn’t spend the money out of “its own” pockets. Because there is no such thing. It spends the money out of the people’s pockets, some way or another. When they pretend to be “generous”, that’s like you taking money out of your partner’s bank account behind their back, or worse yet borrowing money on their behalf and making them precious gifts and boasting with pride. Try it out and see how long that relationship prospers on a mutual trust basis.
The 1 Trillion that we just statistically spread out between 50 million earners, that is only the interest paid for the debt already accumulated. And it doesn’t go to the poor. It goes to wealthy folks who have enough money to spare and buy the federal bonds, for a reliable, secure capital income. Which is in no way illegitimate for them, they are not immoral people. Just as it’s not immoral for Deutsche Bank to lend Donald Trump money for his real estate projects.
But it’s illegitimate for the government to act so irresponsibly towards the people, accumulating so much debt and taking no less than … on average, in the previous reckoning … almost 2k dollars per month from 50 million working people with enough income to somehow being able to pay as much in taxes.
Actually, it’s even worse than that, much more unfair, towards the working class, because partly the federal government “pays” or reduces its debt by inflation. Through that devaluation process, the money gets collected not through taxation, but what feels like stealing, pure thievery. And that effects everybody, including the “working poor”, who can hardly get food for their kids on the kitchen table, including in Scranton PA, where one Joe Biden pretends to have come from some regular background, which is another lie.
Guess what, we’ll just double the numbers:
With actually 2 Trillions of annual deficit spending, the math isn’t difficult: We’re really talking about 40,000 dollars per year, on the backs of each of 50 million working people with (hypothetically, with much luck) sufficient personal income.
Contrary to all the silly gratuitous talk about America, just like other (historically) strong industrial Western nations (Germany, France, Italy, Canada etc.), supposedly being a “rich country” that simply can afford to be courageous and “invest in the future”, or whatever the propaganda wording my be … the deficit spending is not just a bit annoying.
It is destroying the country,
economically, socially, structurally.
Thus far though through our numbers games, it’s been only the cream on the top. The icing on the rotten cake.
Because the accumulated debt is still lingering there in all its grandiose splendor. 35 Trillions, that translates into over 100k debt per capita, including (in no special order) babies, welfare recipients, students, prisoners, disabled and retirees, homeless etc.; when we again assume that maybe there are 50 million working people who have some kind of a sufficient income to meaningfully pay off anything beyond their daily needs, we are talking about an individual citizen’s share of the federal debt … are you ready? …
on the level of 700,000 dollars. And please, don’t consider what you could do with that amount for yourself. It might drive you crazy.
That’s what the political class in DC has done for you. Or rather TO you. By pursuing endless foreign wars, blowing up the governmental apparatus out of every proportion, giving out subsidies to their cronies and generally spending like a drunken sailor who is also a completely dyscalculia inflicted person. Which is a fancy word for “cannot multiply 2 by 2, or count beyond 20”.
Another masterclass sir. Isn’t the point of a guilty verdict in a civil fraud trial and the levying of a fine based on restitution to the aggrieved parties? Who will receive the almost half a billion in fines?