g5000
Diamond Member
- Nov 26, 2011
- 128,965
- 73,268
- 2,605
Maybe.
I hate Trump. This is no secret.
But...
The single biggest crisis facing America today is not ISIS, or homosexuals, or blacks, or Mexicans, or Muslims. Not even close.
It's our debt.
Our debt will be our downfall. During the next downturn, and there will be a downturn no matter who is President, our debt will prevent us from recovering quickly, if at all. Just like it prevented us from recovering quickly from the last one.
At the very least, we will be looking at negative interest rates. A possibility I actually considered to be an impossibility three years ago when I started a topic about the Fed's bond bubble on this forum.
Our debt is a bi-partisan effort. Anyone who claims it was the Democrats is an idiot. Anyone who claims it was the Republicans is an idiot. It was BOTH.
http://www.hoisingtonmgt.com/pdf/HIM2015Q3NP.pdf
You all should be familiar with me enough to know what I have proposed as the solution to our debt problem. Primarily, raise the Social Security and Medicare eligiblity age to 70, indexed to 9 percent going forward, and ban most of the $1.2 trillion in annual tax expenditures.
Do you know who the two candidates this go-round are who most closely align with me on this?
Ted Cruz and John Kasich.
Now, right away, some of your stomachs churned at one or both of those names. Especially Ted Cruz.
But think for a second. What is it about Ted Cruz which turns off a lot of people?
It's his social agenda, right?
But what if Ted Cruz was Secretary of the Treasury? He would be strictly a financial policy guy in a Trump Administration, not a social policy guy.
Treasury. Where the IRS lives.
Ted Cruz rose to fame for opposing raising the debt limit. He's a financial guy more than a social issues guy.
Ted Cruz's tax plan is acceptable to me. He would ban most tax expenditures.
As for John Kasich, he balanced the federal budget before.
So...
If Donald Trump said he would appoint Cruz or Kasich as Secretary of the Treasury, I would seriously consider voting for him.
Because our debt is the most serious crisis facing America today. And either one of those guys can solve it.
Then all we have to do is hope Trump spends most of his time golfing.
I hate Trump. This is no secret.
But...
The single biggest crisis facing America today is not ISIS, or homosexuals, or blacks, or Mexicans, or Muslims. Not even close.
It's our debt.
Our debt will be our downfall. During the next downturn, and there will be a downturn no matter who is President, our debt will prevent us from recovering quickly, if at all. Just like it prevented us from recovering quickly from the last one.
At the very least, we will be looking at negative interest rates. A possibility I actually considered to be an impossibility three years ago when I started a topic about the Fed's bond bubble on this forum.
Our debt is a bi-partisan effort. Anyone who claims it was the Democrats is an idiot. Anyone who claims it was the Republicans is an idiot. It was BOTH.
U.S. government debt now stands at 103% of GDP. If private debt is included, the ratio climbs to about 370% of GDP. Scholarly studies indicate that real per capita GDP growth should slow by about one-quarter to one-third from the long-run trend when the total debt-to-GDP ratio rises into the range between 250% and 275%. Since surpassing this level in the late 1990s, real per capita GDP has grown just 1% per annum, much less than the 1.9% pace from 1790 to 1999.
These results indicate that the relationship between debt and economic growth is non-linear, or progressively negative, as debt advances to higher levels, a pattern confirmed by academic research (Chart 2). The latest information further supports this relationship. The current expansion began in 2009, and since then real per capita GDP growth has been 1.3%, less than half the 2.7% average growth in all expansions from 1790 to 1999.
http://www.hoisingtonmgt.com/pdf/HIM2015Q3NP.pdf
You all should be familiar with me enough to know what I have proposed as the solution to our debt problem. Primarily, raise the Social Security and Medicare eligiblity age to 70, indexed to 9 percent going forward, and ban most of the $1.2 trillion in annual tax expenditures.
Do you know who the two candidates this go-round are who most closely align with me on this?
Ted Cruz and John Kasich.
Now, right away, some of your stomachs churned at one or both of those names. Especially Ted Cruz.
But think for a second. What is it about Ted Cruz which turns off a lot of people?
It's his social agenda, right?
But what if Ted Cruz was Secretary of the Treasury? He would be strictly a financial policy guy in a Trump Administration, not a social policy guy.
Treasury. Where the IRS lives.
Ted Cruz rose to fame for opposing raising the debt limit. He's a financial guy more than a social issues guy.
Ted Cruz's tax plan is acceptable to me. He would ban most tax expenditures.
As for John Kasich, he balanced the federal budget before.
So...
If Donald Trump said he would appoint Cruz or Kasich as Secretary of the Treasury, I would seriously consider voting for him.
Because our debt is the most serious crisis facing America today. And either one of those guys can solve it.
Then all we have to do is hope Trump spends most of his time golfing.