{"id":29448,"date":"2018-01-05T15:57:46","date_gmt":"2018-01-05T20:57:46","guid":{"rendered":"http:\/\/olduvai.ca\/?p=29448"},"modified":"2018-01-05T15:57:46","modified_gmt":"2018-01-05T20:57:46","slug":"why-you-should-embrace-the-twilight-of-the-debt-bubble-age","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=29448","title":{"rendered":"Why You Should Embrace the Twilight of the Debt Bubble Age"},"content":{"rendered":"

Why You Should Embrace the Twilight of the Debt Bubble Age<\/a><\/h3>\n
\n

\"\"<\/a>People are hard to please these days.\u00a0 Clients, customers, and cohorts \u2013 the whole lot.\u00a0 They\u2019re quick to point out your faults and flaws, even if they\u2019re guilty of the same derelictions.<\/p>\n

The recently retired always seem to have the biggest axe to grind.\u00a0 Take Jack Lew, for instance.\u00a0 He started off the New Year by sharpening his axe on the grinding wheel of the GOP tax bill.\u00a0 On Tuesday, he told Bloomberg Radio<\/a> that the new tax bill will explode the debt and leave people sick and starving.<\/p>\n

\u201cIt\u2019s a ticking time bomb in terms of the debt.<\/p>\n

\u201cThe next shoe to drop is going to be an attack on the most vulnerable in our society.\u00a0 How are we going to pay for the deficit caused by the tax cut? \u00a0We are going to see proposals to cut health insurance for poor people, to take basic food support away from poor people, to attack Medicare and Social Security. \u00a0One could not have made up a more cynical strategy.\u201d<\/p>\n

The tax bill, without question, is an impractical disaster.\u00a0 However, that doesn\u2019t mean it\u2019s abnormal.<\/span>\u00a0 The Trump administration is merely doing what every other administration has done for the last 40 years or more.\u00a0 They\u2019re running a deficit as we march onward towards default.<\/p>\n

We don\u2019t like it.\u00a0 We don\u2019t agree with it.\u00a0 But how we\u2019re going to pay for it shouldn\u2019t be a mystery to Lew.\u00a0 We\u2019re going to pay for it the same way we\u2019ve paid for every other deficit: with more debt.<\/p>\n

A Job Well Done<\/strong><\/p>\n

Of all people, Jack Lew should know this.\u00a0 If you recall, Lew was the United States Secretary of Treasury during former President Obama\u2019s second term in office.\u00a0 Four consecutive years of deficits<\/a> \u2013 totaling over $2 trillion \u2013 were notched on his watch.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Why You Should Embrace the Twilight of the Debt Bubble Age People are hard to please these days.\u00a0 Clients, customers, and cohorts \u2013 the whole lot.\u00a0 They\u2019re quick to point out your faults and flaws, even if they\u2019re guilty of the same derelictions. The recently retired always seem to have the biggest axe to grind.\u00a0 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[17796,195,12043,6162,11763],"class_list":["post-29448","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bubble-age","tag-debt","tag-economic-prism","tag-jack-lew","tag-mn-gordon"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29448"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29448\/revisions"}],"predecessor-version":[{"id":29449,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29448\/revisions\/29449"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}