Postcards: The Angry Sea God of Money (May 28, 2023)

Spend... and multiply... the supply of money, says the great dollar printing Keynesian god. And so they did, and it was good... for a while.

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Sunday, May 28, 2023

Dear Old Friend,

And on the third day, the great sea god emerged from the Gulf of Mexico, raised its angry tentacles to the sky, and bellowed:

“LET THEM SPEND MORE MONEY!”

And so, Congress did… and it was good.

Congress has reached a tentative deal to raise the debt ceiling. In a deal that does the bare minimum to bring down out-of-control government spending and dollar debasement (combined with unenforceable future deficit mitigation), everyone in Washington gets to pretend they did their jobs. Now, the fun part starts…

The winners of this deal are still in the alternative energy world – both on the streamlining of permitting and the never-ending gravy train of subsidies and centralized spending.

The losers?

You’re among them.

We are probably going to add about $4 trillion more in debt by the time we have another debt ceiling conversation (limit hit) in 2025. The U.S. government will spend into oblivion to …