Trump, Biden... what’s the difference?

[Bill Bonner’s Diary]( Trump, Biden… What’s the Difference? By Bill Bonner Thursday, September 9, 2021 [Bill Bonner] YOUGHAL, IRELAND – Coming up next month… the U.S. will bump its head on the Debt Ceiling. Treasury Secretary Janet Yellen warned yesterday that if Congress doesn’t act, it will be The End of The World As We Have Known It. CNN elaborates: In short, a default would be an economic cataclysm. Interest rates would spike, the stock market would crater, retirement accounts would take a beating, the value of the US dollar would erode and the financial reputation of the world’s only superpower would be tarnished. “It would be financial Armageddon,” Mark Zandi, chief economist at Moody's Analytics, told CNN. “It’s complete craziness to even contemplate the idea of not paying our debt on time.” Democrats were quick to blame Republicans. “We’re paying the credit card, the Trump credit card,” said House Speaker Nancy Pelosi. Republicans blame Democrats’ [$3.5 trillion budget plan](. Voters choose sides. And the show goes on. Recommended Link [MISSING: Bill Bonner’s LAST and Most Important Book]( [image]( Recently, Bill Bonner published a new book, which details [his final warning to investors](. But shortly after it hit bookstore shelves, it disappeared, without a trace. Today, you’d be lucky to find a used copy online for $79. While some suspect Bill’s book has been “shadow-banned” by major retailers… the truth is far more interesting… and urgent. For the full story – including how you could claim a copy, free as part of this limited-time offer… [Click here]( -- Global Elite But this is where we leave the theater. We’ve seen this show before. It is a time-waster. And a fraud. It is like the scalawag who bumps into you on the street, diverting your attention while his accomplice picks your pocket. We blame them both. Republicans. Democrats. And the gods, too. Built in, hard-wired into the human character, is the desire to expand and to dominate… to be the cock of the walk. Nations, as well as individuals, fight for wealth, power, and status. Nations, rich or poor, democracies as well as monarchies and oligarchies, are never actually controlled by “the people.” The common man has his hands full simply trying to earn a living and find his own place in life. Instead, an elite… an upper class of fixers, hustlers, and suits… a “deep state”… always takes control. And then, once in command, it is corrupted by its own power. And its primary goal turns to protecting its own position and privileges – at all costs. [Featured: 2,000X Bigger than Bitcoin? Forbes calls THIS the Future]( Today, there’s a worldwide elite, a caste of people who have gone to the same business schools and universities. They read the same newspapers and attend the same seminars and conferences. With some variation and internal squabbling, they believe in the same theories – Keynesian economics, government-directed capitalism, popular democracy, feminism, equality, and global climate change. Most importantly, they are all convinced that freedom must not be allowed to get in the way of their power and wealth. Recommended Link [New Law Could Impact 330 Million Americans]( [ad_img]( Self-proclaimed socialist Bernie Sanders called it… “The most consequential piece of legislation since the 1930s.” Unfortunately, according to the Wall Street Journal, most people are unprepared for what’s coming. By the time you see this message, this bill may already have become law. This means you don’t have much time to prepare. [Click here to get the details and see one simple move you can make now to protect yourself.]( -- Same Suits Which is why the debt ceiling will be raised again – just as it was under Trump, Obama, Bush, and Clinton – until it finally goes through the roof. Debt is mothers’ milk to the ruling caste… It’s what allows them to continue spending money they don’t have on things “the people” don’t really want. In America, after the presidential election of 2016, and again after the election of 2020, a new regime took over in Washington. Obama to Trump… Trump to Biden… Each time, the new team could scarcely have been more different from the one preceding it. “A new departure,” said the press each time. But what was new? Which part of the bureaucracy did the new administrations eliminate? How many federal employees were fired? How many programs were shut down? There are hundreds of sub-agencies and departments. Surely, the new crews could have found a few unworthy recipients… a few programs that had not lived up to their promises… or “[investments]( that hadn’t really paid off. But no… almost no change in Washington. Some new people. Some new slogans. But the same suits. And the same programs. There were 2.8 million federal employees 10 years ago. There are 2.8 million today. [Featured: WARNING: Is Your Bank on this List?]( Doubling Down And how about where the rubber meets the road… the U.S. budget? Since the turn of the century, the feds have added $23 trillion in debt to “stimulate” the economy, with the steepest increase in history during the Trump years. It clearly didn’t work. Growth has slowed down, not sped up. So what a marvelous opportunity for the Biden administration! What about leaving the debt ceiling in place… shutting down the printing press… and putting the government on a pay-as-you-go footing? What about it? Give freedom a chance. Liberate people to decide for themselves where to invest their time and resources. Let free markets set prices. But no again… Oh, Dear Reader, you’re making us laugh. Fake money… real deficits – that’s the blood that keeps the [zombies]( fed… No way are they going to give that up. Trump doubled down on the failed policies of Bush and Obama. And now, Biden doubles down again on the failed policies of Trump. Okay… how about a more minor change – interest rate policy? A “zero interest rate policy” has always been controversial… It punishes savers, distorts the whole economy, and rewards borrowers and risk-takers. How about a change of policy there? Nope. Afghanistan? Not even. Trump wanted to leave. Biden just followed through. No change of policy. Recommended Link [Crypto insider warns: “Bitcoin is NOT digital gold… THIS is…”]( [ad_img]( “If you suspect Bitcoin is going to crash, I just want you to know, you’re right.” – Jeff Brown Prepare now, and get rich later… [Here is the truth about Bitcoin that no one else will tell you.]( -- Radical Change Wait… Here are some real, radical changes. On his first day in office, Mr. Biden brought back the transgender bathroom policies of the Obama years. Yep. And the White House website now asks you to choose your own personal pronoun – she/her, he/him, they/them… And if you are confused, you can now choose to identify yourself neither as Mr., Mrs., or Ms., but as “Mx”… as in, really mixed up. That’s “change we can believe in,” right? More to come… on the ruling caste… and its battle against freedom. Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Trump, Biden… what’s the difference?). --------------------------------------------------------------- FEATURED READS [The Hottest Items on the Planet]( months into a global pandemic, and global shipping – one of colleague Tom Dyson’s favorite investments – is still in chaos. Global consumer demand has soared, but there are not enough containers to ship the goods. And costs for shipping containers continue to rise… [CEOs]( Tax Hikes Are a Threat to Business Growth]( plan to raise taxes on corporations as part of their multi-trillion-dollar spending package. But CEOs say these tax hikes are the greatest threat to their businesses, followed by issues with cyber security, supply chain limitations, and climate change. MAILBAG A dear reader agrees with Bill, that Americans have [lost their love of labor]( First of all, it was great to see a photo of Bill on a ladder working on the house in Ireland. I hope that project is coming along the way you had hoped. I am 70 years old and recently built a back patio on our house. I originally wanted to contract out the entire project, but as I started talking to contractors, I felt less assured that they could complete the project to my expectations. Having grown up on a dairy farm in the upper Midwest, and completing construction projects on previous houses, I knew I could complete the stages of the project that I didn’t feel secure in hiring a contractor. So that’s what I did, using contractors to complete the tasks I didn’t have the skill set for or the time to let the project drag on while I did it. We are happy with the result. I say all this to share my agreement with you that the work ethic in America seems to be declining. Am I just an old codger complaining about the state of society now? Maybe, but I do have to share with all the readers that I recently commissioned an artist to convert an old black-and-white photo I had to a water-colored painting that hangs on a wall of our house. The photo was of my great grandmother, and it was taken in 1917. In the picture, she is in a corn field, manning the hand-held, horse-drawn plow with an American flag attached to the plow. She lost her husband in a farming accident and had four children to care for. My grandfather was the oldest and was 12 years old at the time of the accident. She did not remarry, and grandpa became the man of the house, helping her run the farm until he left to join the Army during WW1. The photo was taken while he was in the Army and she was so proud of her son that she attached an American flag to the plow. I’m not sure of the status of public assistance at that time, but I suspect there were not the government-sponsored handouts that are prevalent today. The picture speaks volumes… perseverance, patriotism, and hard work are some of qualities that it represents and are qualities that seemed to have diminished in our culture. I am proud to be from that stock. – Jack F. Meanwhile, others enjoyed Bill’s Labor Day essay, “[Let’s Set Wages for Everybody]( The best way to increase starting wages is to abolish the minimum wage. I have several friends with small businesses, greenhouse work, stockroom work, etc. All pay minimum wages. Why? Because that is the wage set by government. Why do the kids accept the minimum wage? Because they are taught to expect it. There is no conversation at their interview about what their pay may be, no negotiation. Hmmm. What would happen if there was no minimum wage and people asked about the pay before the interview, and then negotiated some more when the job was explained? – Wayde L. I enjoyed this article. I love almost all sports, watch them on TV, etc. But the professional sports stars have to be at the top of your list to redistribute some of their salaries. Each year, the NBA, NFL, and MLB pay these guys more and more money, it's absurd. And their contribution to society is certainly distorted. – Tom C. I believe it is Rep. Ilhan Omar recommending $2,000 per household each month, as the squad seems hell bent on crippling people from working at all. That might obliterate the notion of minimum anything. They will inevitably descend with scurrilous jabs to bring our throngs closer to Marxist living! I am in the process of reading Bill’s book right now. But two books that are timely as well, that I will hasten to recommend to anyone who cares about life in this world of ours, are WOKE Inc. and American Marxism. They both end with very useful recommendations as to what people can do to begin to chip away and get in the way of what is going on through our education and our corporations. I am truly enjoying Bill’s book and his vast knowledge of life, how he assesses it, and brings to bear so many life lessons for any reader. Wisdom. Bill, you have so much wisdom. Thank you. – Anita M. Have you read Bill’s latest book, Win-Win or Lose? If so, how is it informing your financial decisions? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Trump, Biden… what’s the difference?). 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