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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: rxbond who wrote (1124911)	3/16/2019 12:58:39 PM
From: RetiredNow	Read Replies (1) \| Respond to of 1575780

Oh yes, I remember. When Trump came out and said he could get us to 3 or 4% GDP, Obama's response was to laugh it off and say not possible. Obama accepted mediocrity and we had to live like that for 8 years of low growth. Now, as an asset holder, I was happy, because QE was great at enriching the asset holders. But for the 99% it has been ruinous. The truth is you make a great point. If we are honest with ourselves then there are only 3 things that matter in the budget, if you do the Pareto Analysis: * Welfare Entitlements - SS, Medicare, Medicaid * Military Spending * Interest on the Debt So the discretionary portion of the budget that Trump can actually do something about is really an insignificant portion relative to the whole. So no one is allowed to touch the Welfare Entitlements, because both Ds and Rs will vote them out. The MIC has wholly bought and paid for Congress and I mean both sides, so you can forget about reducing military spending. And the deficits continue to grow as a result, which increases the debt, which increases the interest, which is the last of those 3 biggest line items. So really, this is why I say our fiscal management is completely out of control and not likely to ever get better. So all any President can hope to do is steer Congress on a path that will allow us to grow the economy faster than the debt. That's very hard to do, but Trump has managed to do that with his policies. The problem is that QE, low to zero interest rates, deficit spending and debt are all just means of borrowing from the future to pay for today. That's a long term loser. So that means the Fed and Congress are backed into. corner of their own making. So you have Congress the Heroin Addict and the Fed the Heroin Pusher in a dance to Hades. Andrew Jackson was right in fighting against the Central Bank of his time. It is a the root cause of the fiscal and monetary mess and it will be the ultimate reason we lose reserve currency status and our standard of living along with it. Trump can only forestall the inevitable for so long and he has my support to do what he can. P.S. Disagree with you on Gundlach. He's a very smart guy and runs his opinions by the numbers. He thinks things are rolling over and it's time to be cautious. I agree with him.