Dishonest money begets dishonest statistics, dishonest accounting, dishonest balance sheets, dishonest means, dishonest objectives, dishonest compensation policies, and dishonest relationships; that it begets ambiguousness and corruption in every aspect of life...
'dishonest balance sheets' - Since FASAB Statement 56 has effectively placed the official federal budget in the Sci-Fi/Fantasy section, it stands to reason that the same rationale could be extended to the Fed's balance sheet. Why would we believe any of their numbers at this point? They could have two sets of books (like any well run criminal organization) and we would have no idea; and it's all 'legal' by claiming 'national security interests' - the classic catch all for tax payer funded dirty deeds.
Aug 1, 2022·edited Aug 3, 2022Liked by Rudy Havenstein
Such lucrative ponzi schemes are worth lying for. They just need bodies to convince it's worth dying for. I don't think it's a coincidence that Japan wants to make a constitutional change to increase military spending. And then a few weeks later redefine what the legal age is from 20 to 18. Military still at 20 but I'm sure it's coming. Shooting war within China in 10 years?
Just met a young couple who bought the house two doors down from ours. They paid $50k more than my wife and I did ~20-years ago, for about half the square footage. If they knew any of that, and that our house was “paid-off” (we get to live here as long as we can afford the taxes), I would fear for our safety. They are half our age, and I have no problem with them hating boomers as much as they could/should.
'dishonest balance sheets' - Since FASAB Statement 56 has effectively placed the official federal budget in the Sci-Fi/Fantasy section, it stands to reason that the same rationale could be extended to the Fed's balance sheet. Why would we believe any of their numbers at this point? They could have two sets of books (like any well run criminal organization) and we would have no idea; and it's all 'legal' by claiming 'national security interests' - the classic catch all for tax payer funded dirty deeds.
*cue the AC/DC here*
Zero trust in any federal institution.
Such lucrative ponzi schemes are worth lying for. They just need bodies to convince it's worth dying for. I don't think it's a coincidence that Japan wants to make a constitutional change to increase military spending. And then a few weeks later redefine what the legal age is from 20 to 18. Military still at 20 but I'm sure it's coming. Shooting war within China in 10 years?
Rudy never misses. Deadpan savage humor paired with pinpoint analysis. A national treasure.
Love the Sun Microsystems comment; good times
Just met a young couple who bought the house two doors down from ours. They paid $50k more than my wife and I did ~20-years ago, for about half the square footage. If they knew any of that, and that our house was “paid-off” (we get to live here as long as we can afford the taxes), I would fear for our safety. They are half our age, and I have no problem with them hating boomers as much as they could/should.
Great update. 👍
“ As housing prices fall, the 'American dream' of homeownership becomes possible again for some”
That’s the right way to look at it.
Listening to any podcast with Doomberg or Josh Young is always worth it.
Any thoughts on the article below? To quote the article, maybe the TLDR should have been "the FED aimed to keep its MBS BS"!
https://johncomiskey.substack.com/p/how-to-calculate-mbs-principal-payments