Posted originally on Oct 27, 2024 By Martin Armstrong
A reader sent this in without a comment. This was a rather famous crime in Poland that some used and blamed the Ukrainians when they had nothing to do with it. This was a 1923 crime in Poland during the economic crisis that engulfed the whole region with hyperinflation, which stemmed also from Germany. Unemployment was massive and the economy was in shambled. There was a band of “Roma” gypsies who were stealing food and animals in villages across Poland. Marianna Dolinska was 32 at the time with four children. In December 1923, her husband was arrested, leaving Marianna and her four children with no support. This was the period when many peasants’ children died of starvation. Marianna was distraught and assumed that she and her children would die of starvation. On December 11th, 1923, Marianna hung all four of her children with the same rope by tying it around the base of a tree trunk in the woods near Antoniowka. The next day, Marianna went to the police station in Kozlow, confessed to the murder of her children, and led investigators back to the tree where their bodies were hanging.
A police photographer took the photo you see here. The case became one of the most high-profile criminal cases in the Second Polish Republic. However, this photo was used on the cover of a book containing photographs depicting crimes by the Ukranian Insurgent Army (UPA) entitled Ludobojstwo UPA na Ludnosci Polskiej(which translates: Genocide Against the Polish Population by UPA). This was from 1923 – not 1943. It did not reflect the Massacre of Poles in Volhynia, which began in March of 1943 and ended in 1944. The estimated civilians that were ethnically cleansed by the Ukraians was between 35,000 and 60,000 Polish people. The majority were women and children.
This photo was misused for it did not reflect the crimes of the Ukrainians and the UPA’s Massacre of Poles in Volhynia,
which was so horrible it even shocked the Germans.
Posted originally on Oct 26, 2024 By Martin Armstrong
COMMENT: Mr. Armstrong, I have family in Kyiv, and as you have reported, they are unhappy with Volodymyr Zelenskyy. I am not sure who is pulling his strings, but he is a threat to Ukraine. As you have pointed out, they had their freedom. Attacking the Donbas was not for the people’s benefit. It seems that anyone who tells the truth is attacked as putting out Russian propaganda. He has shut down all the press that even questioned what was going on in Ukraine.
I wish more people would open their eyes. Thank you for trying.
ANSWER: It is not Russian propaganda but Neocon propaganda that we need to be worried about, just like the weapons of mass destruction of Saddam that never existed or the Russians that were never behind Vietnam. When the war just began, I reported that 100,000 Ukrainians had been killed in the first few months. The emails came in accusing me of putting out Russian propaganda. It did not matter that my sources were from Ukraine. Then, the head of the EU gave the same number. Zelensky made her take that out, claiming it was classified information. Here is the original clip and the edited one. This was NOT Russian propaganda.
Even Ukrainian TV has reported that over 1 million Ukrainians have been killed in this war, and for what? So Blackrock can buy up all the farmland? Zelensky is asking for nuclear weapons. He knows that Russia would then have no choice but to annihilate Ukraine. Putin would be justified in responding just as President Kennedy responded in 1962 because of nuclear weapons being stationed in Cuba.
The Ukrainian People Deserve to Decide their own Fate, not one dictated by the Neocons in the USA or NATO.
Zelensky has been asking to JOIN NATO, which is instant World War III
or give him nuclear weapons. This is just unimaginable!
Ukraine should have been split according to ethnicity, the same as the fall of Yugoslavia. Just as a Serb killed the archduke and heir to Austria in Seriavo and started World War I, the ethnic hatred in this region can only be suppressed by division.
Posted originally on Oct 26, 2024 By Martin Armstrong
I have warned that Zelensky is a power-hungry and deeply hateful person who will hurl the world into World War III. He actually suggested he be given nuclear weapons if not allowed to join NATO. I have had employees both in Kyiv and Donetsk, and the sad part about this is they have lost their country, and for what? I warned them that he was dishonest and had been constantly lying and trying to manipulate the world. He intentionally dresses as if he is in the military, no matter what he attends. He thinks this is a psychological ploy to get him never-ending money constantly. The only way to world peace is to arrest this clown, and he should be in prison for the rest of his life without parole.
Zelensky lied to get into office and pretended to be Christian, even baptizing g his two children. He promised peace to win, and my sources in Kiev swear the election was rigged. He promised peace, and has done everything put what he promised and then declared Martial Law so he does not have to stand for election every again as long as he can keep this war going. Heis VICTORY PLAN was nothing but to conquer and destroy Russia.
He then suddenly became Jewish to select the fact that he was a Neo-Nazi and used to joke on stage about confiscating assets from Jews and Russians which he classified as the same. Friends in Israel do not consider him Jewish and he was pushing his claimed Jewish heritage and then asking for money implying this was vaguely connected to exterminating the Jews.
The Pandora Papers revealed that Zelensky also had secret hidden offshore accounts along with all the other corrupt Ukrainian politicians. He had the audacity to claim that they were offshore protecting him against pro-Russian forces. In truth, these offshore accounts pre-dated him becoming president. Sources in Ukraine also claim that he was drafted and never showed up for military service.
He not merely always dresses as a janitor, he stages films to pretend how bad it is for Ukrainians to put out fake news.
I warned that if Zelensky were assassinated, he would be by a Ukrainian. He has destroyed his own country hoping to make a fortune on its reconstruction. Farmland is now bought by Blackrock, and the list of corruption is endless. Zelensky is looking for hundreds of billions to rebuild Ukraine and has the audacity to claim this will be the biggest investment project for Europe in modern history.
The day before Russia came to the aid of the Donbas in this civil war that Kiev started on the alleged orders of Victoria Nuland, to ensure Putin would cross the border, he declared that Ukraine would rearm with nuclear weapons. That was the final straw; Putin even noted that in his address to Russia. It was not any different than the JFK and the Cuban Missile Crisis.
The Washington Post found out that Zelensky knew when Russia would cross the border and did not warn his people. Like Hamas, he wanted civilians to be killed so he could blame Russia. When asked why he did not warn his people, he said it would have cost him $7 billion dollars. That is a war criminal.
It was the American Neocons who instructed the UNELECTED Kiev government to attack the Russians in the Donbas and call them terrorists because they, too, wanted to separate from the Ukrainians who hate Russians and were killing them on the streets of Odesa.
Zelendky staged the entirely false claim that Russia just killed civilians in Bucha. I have seen footage of pretend bodies with no visible blood lying in the streets, and as the car passed, they got up. There was no evidence of any such massacre.
You have to understand that creating false flags is the #1 occupation of Ukraine. On March 31, 2022, the mayor of Bucha was joyful in announcing that the settlement had been liberated. He does not talk about any corpses on the roads and the terrible destruction of mass graves. It was two days later when suddenly photos and videos of people lying along the road appeared and horrendous stories about hundreds of dead being thrown in mass graves. These reports did not surface until two days after the Russians left. The Ukrainians were staging another false flag. Why did the mayor appear joyous and make no mention at first of these atrocities? This is why the West simply claimed there was no evidence and hid this was yet another Ukrainian False Flag trying to start World War III. Any Western Politician who votes for anything to support Ukraine should be charged with treason.
Zelensky tried to claim Russia attacked Poland to start World War III. The evidence shows it was Ukraine that attacked Poland and tried to claim it was Russia. My RELIABLE sources insisted that it was Ukrainians who shot down the Malaysia fight and tried to blame the Russians. That was all covered up, and they blamed Russians in the Donbas.
The West simply wants to destroy Russia. This is why Merkel lied to Putin and falsely negotiated the Minsk Agreement to buy time for Ukraine to build an army. This has been on the agenda for decades, and the fall of communism never changed that policy. They will do the same with China. In truth, this is Ukrainians invading the Russian territory where Russians have lived for centuries. The propaganda has flipped this completely around, claiming Putin was invading Ukraine when they began this civil war in 2014 and launched the first attacks on the Donbas.
The treatment of Polish, Jews, and Russians during WWII even horrified the German Nazis. Why would Poland ever support Ukraine can only be that its leaders are told what to say and do by those behind NATO seeking World War III. The Polish people should wake up, for they will be the next to be thrown on this altar of geopolitical sacrifice.
The Polish Association of Memory of Victims of Crimes of Ukrainian Nationalistsdocumented 135 methods of torture and murder practiced by Ukrainian Nazis. Poland officially called the Ukrainian actions genocide. The Ukrainians have been protected by the CIA for decades ONLY because they hated Russians. They continue to protect the Ukrainian Nazis only because they are waging war against Russia. No Ukrainian was ever prosecuted for war crimes that made the German Nazis look like amateurs.
The Ukrainians were unprecedented in their war crimes during WWII, and the sheer outright cruelty has NEVER been addressed. They, above all, should have been hunted down more so than the Germans. The torture Ukrainians inflicted even on Polish and Hungarians, along with Russians and Jews, included:
Running children through with stakes
Cutting a person’s throat and pulling their tongue out through the hole
Sawing a person’s torso in half with a carpenter’s saw
Cutting open the belly of a woman in an advanced stage of pregnancy, removing the fetus, and replacing it with a live cat, before sewing up her abdomen.
Cutting open a pregnant women’s abdomen and pouring in broken glass
Nailing a small child to a door.
There are numerous foreign soldiers who volunteered for Ukraine and then have returned shocked at the extent of the war crimes carried out by Ukrainians. You have no idea of the seething hatred of all Russian-speaking people in the Donbas or in Russia. A significant number of Ukrainians have no problem killing and torturing Russians. If you did your research, the extent of the cruelty of the Ukrainian Nazis even shocked the German Nazis. They would cut out a baby of a pregnant woman and so in a live cat. They killed countless people from Poland and the Russians as well as Jews.
They do not teach what the Ukrainian Nazis did in Ukraine because it was too horrible. One report stated:
“Some Ukrainian educators believe the Holocaust is not an appropriate topic for teaching because in a Holocaust course a professor would need to let Ukrainian students know that some Jews were betrayed to the Nazis by Ukrainian neighbors. In addition, the OUN and UPA took part in the annihilation of Jews in western Ukraine, and this knowledge can shock young Ukrainians. ” id/pg 205
I have videos that are too horrible to show of Ukrainians torturing Russian soldiers today, nailing them to a cross, and then setting them on fire. There are numerous foreign soldiers returning who are totally disgusted by what they have witnessed in Ukraine. One reported that they simply shot all the Russian soldiers they captured. Nobody will tell the truth because as long as they hate Russia, then Russia’s enemy is the West’s friend. The Ukrainian Neo-Nazis have been the most ruthless people I have ever encountered in history. Add to that, Ukraine is the most corrupt country in Europe even declared by the IMF. In fact, they may be the most corrupt in the world.
Zelensky has called on NATO to use nuclear weapons to destroy Russia. This is the typical ethnic hatred that has always consumed Ukraine. They were the neo-Naris who joined Hitler because they were still practicing ethnic cleansing. They hate anyone other than Ukrainian and have killed hundreds of thousands of Polish, Hungarians, Russians, and even Jews.
“We’re not asking for nuclear weapons to be given to us,” he claimed yet he has been raising the nuclear argument before Russia crossed the border. Last week, Zelensky implied that obtaining nuclear weapons should be provided if his country couldn’t join NATO. “Either Ukraine has nuclear weapons, which will serve as its protection, or it must be part of some kind of alliance.” There is no mistake about Zelensky. The Ukrainian people had better rise up against this modern-day Hitler who still harbors ethnic cleansing.
Putin warned that this would be a very “dangerous provocation.” Zelensky is an evil, greedy person who only thinks about destroying Russia, just as the Ukrainians were doing for Hitler. Putin further added: “I can say right away that Russia will not allow this to happen under any circumstances.”
Zelensky claimed his Victory Plan was not nuclear, just the total destruction of Russia.
Any Western leader who gives anything to Ukraine is an absolute traitor to his people. This will end in World War III, the West WILL LOSE, and the world’s financial capital will move to Beijing. Anyone who supports Zelensky should be dragged out of office ASAP.
Victoria Nuland’s husband, Robert Kagan, has resigned as the Editor at Large from the Washington Post.
WASHINGTON – […] The Post’s newsroom and editorial team erupted in outrage. Robert Kagan, a neoconservative columnist and editor at large at the Post, resigned in response, he confirmed in a statement to POLITICO. A spokesperson for the Post declined to comment on Kagan’s resignation. (more)
Allow me to take you back two-years, to November of 2023 for a reminder.
CTH ARCHIVES – Everyone in/around U.S. politics knows the Washington Post, owned by Big Tech Amazon, is effectively the PR firm of the Central Intelligence Agency (CIA). No one inside the DC beltway does not understand this basic truth.
Therefore, when the husband of State Dept official Victoria Nuland, a man named Robert Kagan, writes an op-ed in the CIA newsletter, effectively calling for President Trump to receive the Julius Caesar treatment, the non-subtle message is for the CIA to repeat their Kennedy performance and kill President Trump.
As alarming as this acceptance might sound, there are no intellectually honest people who would deny it.
WaPo/CIA – Let’s stop the wishful thinking and face the stark reality: There is a clear path to dictatorship in the United States, and it is getting shorter every day. In 13 weeks, Donald Trump will have locked up the Republican nomination. In the RealClearPolitics poll average (for the period from Nov. 9 to 20), Trump leads his nearest competitor by 47 points and leads the rest of the field combined by 27 points. The idea that he is unelectable in the general election is nonsense — he is tied or ahead of President Biden in all the latest polls — stripping other Republican challengers of their own stated reasons for existence.
[…] Are we going to do anything about it? To shift metaphors, if we thought there was a 50 percent chance of an asteroid crashing into North America a year from now, would we be content to hope that it wouldn’t? Or would we be taking every conceivable measure to try to stop it, including many things that might not work but that, given the magnitude of the crisis, must be tried anyway?
Will those who balked at resisting Trump when the risk was merely political oblivion suddenly discover their courage when the cost might be the ruin of oneself and one’s family? (more)
Victoria Nuland’s husband, Robert Kagan, the Editor at Large for the Washington Post and the man who called for the assassination of President Trump, has now resigned because the CIA newsletter would not endorse Kamala Harris!
Posted originally on Oct 25, 2024 By Martin Armstrong
Zelensky cried earlier in the week that he needed a “security umbrella” from NATO, since the alliance had deemed Ukraine too corrupt to join before and after the war began. Every day these world leaders put us on the brink of World War III with no regard for their actions. In the most recent vote, seven NATO members once again prevented Ukraine from joining.
The United States and Germanyvoted no. German Chancellor Olaf Scholz said that more thought would be required to permit Ukraine to join the alliance, and that the support of the United States was crucial. Joe Biden has previously stated he would not support membership amid the ongoing war as doing so would invoke Article V and immediately lead to World War III. Biden has said that he supports a “rational path” for Ukraine’s membership in the future. The neocons are strategically holding off for now.
Orban of Hungary also would like to see diplomatic solutions over escalated warfare. “We do not approve of this, nor do we want to participate in financial or arms support (for Ukraine), even within the framework of NATO,” Orban stated, also urging the alliance to seek out normal relations with Russia when the war ends. Orban is looking to redefine Hungary’s role in NATO entirely and has recently toyed with the idea of an “opt-out” status since his nation has personal issues with Ukraine over energy.
Estonia, Latvia, Lithuania, and Poland have expressed their support. “Countries like Belgium, Slovenia, or Spain are hiding behind the US and Germany. They are reluctant,” said one of the NATO officials. Europe is in deep trouble if the NATO alliance dissolves. They have been attempting to cohesively build a defense system but as we saw with the creation of the European Union it is impossible for every nation to agree, hence why they install unelected officials to call the shots.
Posted originally on Oct 24, 2024 By Martin Armstrong
I reported how the US deficitreached the third-highest on record after surpassing $1.83 trillion. Instead of questioning why the deficit rose 8% in a single year, the government believes that the taxpayers should simply pay MORE into the failing system. Treasury Secretary Janet Yellen declared that she is not concerned about the widening deficit. Why? The Internal Revenue Service will hunt down citizens to close the gap.
Yellen said that IRS agents plan to collect $2 trillion in unpaid taxes, surpassing the measly deficit. I do believe some think that statements like this mean the government is going to hunt down major corporations and billionaires. That would not be ethical either, but records show that the main group audited last year was the middle class. This way of thinking is extremely dangerous. The US government is desperate for funds and they MUST shake down their citizens to recover what they can. It’s a canon event in the rise and fall of civilizations – soaring taxes are a guarantee when dealing with the eventually fall of a nation.
“By making sure that we stay on a sound fiscal path and that does require deficit reduction over the coming years,” Yellen said. “I believe it’s very important that we remain focused on keeping the real net interest cost of the debt near historic levels and certainly under 2%.” Yellen praised the Biden-Harris regime for “giving the Internal Revenue Service the resources that they need to close what is estimated over the next decade to be a $7 trillion tax gap.”
The Inflation Reduction Act was never intended to reduce inflation or HELP Americans. Yellen said earlier that the act was passed to push forth climate change iniatives which are all a ploy to collect more taxes and control the global population. IRS Commissioner Danny Werfel praised the Inflation Reduction Act for giving the IRS the ability to hunt absolutely everyone. “With the help of Inflation Reduction Act funding, we are adding focus and resources to areas of compliance concern, including high-income and high-wealth individuals, partnerships and corporations,” Werfel said.
They call it underpayment. Even if you pay your taxes, they will punish you for paying too much or not enough. Either way, the IRS can successful extort money from any American. The Treasury declared that they “recovered” $1.3 billion in taxes last year rom the “wealthy.”
Last year, billionaire class was not targeted, as 80% of all audits were on filers earning under $1 million. Yes, there are far more taxpayers in the middle and lower brackets. However, the IRS merely claimed they would prioritize hunting higher earners; they never explicitly said they wouldn’t come after ALL Americans.
The entire hunt for taxation has been a war on the middle class, who is unable to file massive write-offs and cannot afford to continue paying Uncle Sam on every incoming and outgoing transaction, plus savings, income, and everything else from birth to death. Washington effectively lowered our purchasing power by fueling inflation through absurd fiscal and social policies, and now they are asking people to give them even more of whatever money that remains. Washington continues to spend taxpayer funds on initiatives that the people have never once voted on.
It will become far easier for governments to extort the people when they introduce CBDC. Uncle Sam will think you have hidden any cash on hand from him, cash that belongs to him, once they force us to digitize our dollars. They are also thinking of new ways to shake down the public. A tax on realized gains would destroy absolutely everyone. It is completely absurd that those in power believe the people could cover their spending. No one stops to take accountability. There are simply NO mirrors in Washington. Inflation will continue to rise above GDP and we will enter a period of stagflation. This is why I have warned countless times that private and tangible assets are a safer bet compared to cash as we move into 2028.
Posted originally on Oct 24, 2024 By Martin Armstrong
Defense Secretary Lloyd Austin confirmed yesterday that North Korea has deployed troops to Russia. “That is a very, very serious issue and it will have impacts not only in Europe, it will also impact things in the Indo-Pacific as well,” Austin warned. Zelensky is now panicking as two nations with nuclear capabilities are fighting against Ukraine.
North Korea denies the allegations. “My delegation does not feel any need for comment on such groundless stereotyped rumors,” a North Korean representative to the United Nations said during a U.N. General Assembly session this week. Kremlin spokesperson Dmitry Peskov said there is a lot of “contradictory information” spreading. “This should not cause anyone any concern, because this cooperation is not directed against third countries,” Peskov added.
South Korea is eager to aid Ukraine, with South Korea’s National Intelligence Service believing 3,000 troops have been deployed, with an additional 10,000 North Korean soldiers expected to arrive in Russia before the end of the year. Zelensky believes two brigades each composed of 6,000 North Korean troops have already made their way to the battlefield.
Russian Foreign Ministry spokesperson Maria Zakharova warned Seoul “not to fight in anti-Russian hysteria, but to think about the consequences for the security of South Korea, which could lead to the entry of the Republic of Korea into the Ukrainian conflict, if such decisions are made.” Yet, South Korea said the involvement of its northern enemy gives it the green light to begin heavily arming Ukraine.
Meanwhile, Zelensky is blaming NATO. “My position is very clear. We gave away our weapons but got nothing in return. Only a full-scale war and death. Therefore, today we have only one way out. We need NATO because we don’t have weapons that can stop Putin,” Zelensky said, later adding that he had asked both Trump and Biden for additional assistance since the US is the primary donor to NATO. “We gave up our nuclear weapons. We did not get NATO. I asked them if you could name me other allies or another ‘security umbrella’, some security measures and guarantees for Ukraine that would be commensurate with NATO. No one could tell me,” stated Zelensky. What would a “security umbrella” entail here? His Victory Plan banks on the total annihilation of Russia.
North Korea may be a small, hermit kingdom, but it has an army of 1.2 million troops. Earlier in the month, North Korea denounced NATO’s condemnation of military cooperation between North Korea and Russia, warning that the entity could face “tragic consequences” if it continues to pursue an anti-North Korea stance. “NATO, no more than a tool of the U.S. for war, slandered the intensified legal cooperation between independent sovereign states while distorting the essence of the Ukrainian incident,” an unnamed ministry spokesperson was quoted as saying by the Korean Central News Agency.
I mentioned in an earlier blog post theECM cycle for North Korea. North Korea recently removed all verbiage of reconciliation with the south from its Constitution. South Korea is absolutely enraged at this recent revelation and is eager to retaliate. Llyod Austin’s statement about North Korea’s involvement impacting the entire Indo-Pacific region should not go unnoticed as China may be the final player who must become involved to spark World War III.
Posted originally on Oct 23, 2024 By Martin Armstrong
The United States Treasury reported a $1.833 trillion budget deficit for the fiscal year ending September 30. This marks the third-highest deficit on record, but it is solely due to government spending. The highest deficit happened in 2020 during the disaster of COVID, and second behind is the clean-up year of 2021 when the deficit dropped to $2.772 trillion. Bidenomics is nearly as harmful as global one-in-a-lifetime disaster.
The deficit widened 8% or $138 billion from the reported $1.695 trillion in 2023. The department stated that a large chunk of spending went to the reversed decision to forgive $330 billion in student loans after the Supreme Court declared Biden’s attempted bribe to young voters unconstitutional. Democrats are now blaming Republicans for “tax cuts that led to low revenue levels that increased the debt.” Their spending is always our cross to carry, and we will inevitably be punished through taxation.
The government is to blame on both sides. We are funding three major wars yet claim we are not a nation at war. America spends as if it has endless money. Why? Because the US Treasury knows it can never pay off all its debt. It doesn’t intend to pay it off and it is highly likely they let the reigns loose long ago since the actual number matters not. Now we are being crippled by the interest alone on these debts. There was a 30% annual increase in spending on interest alone on the public debt. The government spent $890 billion on interest alone. For reference, the US defense budget was $866 billion last year. Interest rates rise in times of war, sinking the nation further into debt. Again, this is not isolated to America as we will see defaults cripple both nations in Asia and Europe before reaching American soil, hence the capital movement into US equities.
Posted originally on Oct 22, 2024 By Martin Armstrong
I am sick and tired of all the constant lies. The Biden Administration blames Trump for its $1.8 trillion deficit. The interest expenditures will be about $1 trillion alone. Now, if you just accept that at face value, you are part of the problem when the United States will crash and burn. This makes it sound like tax revenues have declined. In 2020, the last year of Trump’s presidency, the total tax revenues collected were $3.42 trillion. In 2023, the revenues taken in from taxes was $4.4 trillion. And the U.S. government now estimates its total revenue will be $5.49 trillion for fiscal year 2025.
If we confiscate 100% of the top 10 wealthiest people, according to Forbes, we would get $1.5 trillion, but that still will not eliminate the deficit. It would destroy all of those companies, create huge unemployment, and wipe out our countless pension funds, But hey. They are the problem, and they are never the politicians who are off to rob others and hand it to you for your vote.
Since the war with Russia began in February 2022 during Biden’s Administration, he has pushed for a total of $175 billion. Interestingly, $106 billion directly aids the government of Ukraine, while the balance funds “various” U.S. activities associated with the war in Ukraine, namely overthrowing the Russian government and surrounding countries. This is never documented or fully explained. Thus, Ukraine accounts for about 10% of Biden’s deficit.
But hey! This is all Trump’s fault for not raising taxes back to 94% as they were for World War II, 91% for Korea, and 70% for Vietnam. If we look at the accumulative interest expenditures and war, about 70% of the national debt has been for playing policeman of the world. This has NEVER benefited the people.
They always say to tax the rich. As I said, if you take ALL the assets of the top 10 billionaires, you would NOT eliminate this $1.8 trillion deficit. But that is just the tip of the iceberg. They changed the definition of who the rich are. Before World War II, the definition of the rich was $5 million, while a Cadillac was $600. The began to raise it to $250,000 a year, but then it was clarified as “household” income. So, if you and your wife combined were at $250,000, you were that horrible, evil, greedy rich person they need to shake upside down to get every penny in your pocket.
Once upon a time, it was theorized that if the government borrowed, it would be less inflationary than printing. But those days are gone. That is when it was illegal to borrow against government debt. Today, debt is just money that pays interest the same as it was during the American Civil War.
If we add each year the total interest expenditures, you will see that generally, about 70% of the national debt is based on just interest, as we will reach $1 trillion this year. Guess what? China holds about 10% of the US national debt, so interest is going to China, but it does not stimulate the US domestic economy. We should stop borrowing, for it would be cheaper and less inflationary if we just printed to cover the deficit rather than borrow. Then, capital will lend to the private sector, and we will see a huge economic boom. Things have changed in economics – it is about time we recognize Keynesian Economics has failed.
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