Gallatoshi on Nostr: ET TU, CHRYSTIA? "Judge me, you gods! Wrong I mine enemies? And if not so, how should ...
ET TU, CHRYSTIA?
"Judge me, you gods! Wrong I mine enemies? And if not so, how should I wrong a brother?" -- Brutus, Julius Caesar
Chrystia the Impaler finally did something to affect change.
Minutes before I dispatched last week's dismal diatribe, CTI quit as Finance Minister.
Impaling Mr. Socks' minority government in the process. Setting the stage for Tik-Tok Jag to bring down the Lib government.
Her experience as a journalist meant she knew how to insert the blade to inflict the most damage. Resigning mere hours before she was set to deliver the fall economic update.
That left poor JT and his minority government twisting in the wind. As a former cabinet minister said this week "there's a reason we still read Shakespeare".
And how did T2 respond to this crisis? In the same languid way that we've come to expect from his rudderless leadership.
He hid. First in his SUV. And then behind closed doors.
For hours the country was without a Finance Minister. Who would deliver the speech? Would there even be a fall economic update?
The Libs were making the Keystone Cops look like Nobel laureates.
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So with no one willing to jump on the grenade, the bad news sat on the table like an unopened brown envelope from CRA.
Because theres no way to sugar coat the biggest budget miss since Kevin Costner's Waterworld. A cool $20 Billion and 50% over budget.
I predicted it. In fact, my exact words were "would it surprise me if it was, I dunno, $60 Billion? Not in the least."
A bold call that turned out to be as prescient as it was precise. And now T2's chances lay impaled by one of his most loyal merry men.
To be fair folks, the political landscape is changing around the world. The fall of incumbent governments has been accelerating. And points to a greater sea change.
In every democratic nation to hold an election this year, the incumbent got crucified.
To wit, the French government couldn't get their budget through parliament and fell. South Korea's President got impeached. The German government fell. And now our laughable Libs are on life support.
Why the wave of anti incumbency?
Because in a debt bubble, governments drown in a tax and spend system. No matter how grandiloquent their rhetoric. They can promise the world, but they will fail to deliver.
Those unfulfilled promises pile on more debt. Like the $61 billion bill the Libs handed us. That debt and its concomitant carrying costs hamstring future growth.
Slower growth makes it tougher to balance the budget. And that forces governments to make one of three choices. Raise taxes, cut spending or inflate away the debt.
John Rapley, author of "Why Empires Fall" concurs.
"This is how empires fall. Any one of these solutions hurts one political constituency or another. Politicians promise they'll magic away the problem by making the economy grow faster."
Even new government can't cure what ails us.
Because the disease has already infected the lifeblood of our economies. And that disease is easy money.
When central banksters can print $60.9 billion out of thin air, who cares what we spend?
Because too much morphine kills even the healthiest patient. And now a dollar of spending no longer equals a dollar of growth. Because a full quarter of each new dollar has to go to pay the interest expense on the old debt.
That disease has our government on their knees. And someone’s always waiting in the wings, shiv in hand.
Mr. Socks just didn’t think it would be his deputy.
Et tu, Chrystia?
#BTC
"Judge me, you gods! Wrong I mine enemies? And if not so, how should I wrong a brother?" -- Brutus, Julius Caesar
Chrystia the Impaler finally did something to affect change.
Minutes before I dispatched last week's dismal diatribe, CTI quit as Finance Minister.
Impaling Mr. Socks' minority government in the process. Setting the stage for Tik-Tok Jag to bring down the Lib government.
Her experience as a journalist meant she knew how to insert the blade to inflict the most damage. Resigning mere hours before she was set to deliver the fall economic update.
That left poor JT and his minority government twisting in the wind. As a former cabinet minister said this week "there's a reason we still read Shakespeare".
And how did T2 respond to this crisis? In the same languid way that we've come to expect from his rudderless leadership.
He hid. First in his SUV. And then behind closed doors.
For hours the country was without a Finance Minister. Who would deliver the speech? Would there even be a fall economic update?
The Libs were making the Keystone Cops look like Nobel laureates.
Share
So with no one willing to jump on the grenade, the bad news sat on the table like an unopened brown envelope from CRA.
Because theres no way to sugar coat the biggest budget miss since Kevin Costner's Waterworld. A cool $20 Billion and 50% over budget.
I predicted it. In fact, my exact words were "would it surprise me if it was, I dunno, $60 Billion? Not in the least."
A bold call that turned out to be as prescient as it was precise. And now T2's chances lay impaled by one of his most loyal merry men.
To be fair folks, the political landscape is changing around the world. The fall of incumbent governments has been accelerating. And points to a greater sea change.
In every democratic nation to hold an election this year, the incumbent got crucified.
To wit, the French government couldn't get their budget through parliament and fell. South Korea's President got impeached. The German government fell. And now our laughable Libs are on life support.
Why the wave of anti incumbency?
Because in a debt bubble, governments drown in a tax and spend system. No matter how grandiloquent their rhetoric. They can promise the world, but they will fail to deliver.
Those unfulfilled promises pile on more debt. Like the $61 billion bill the Libs handed us. That debt and its concomitant carrying costs hamstring future growth.
Slower growth makes it tougher to balance the budget. And that forces governments to make one of three choices. Raise taxes, cut spending or inflate away the debt.
John Rapley, author of "Why Empires Fall" concurs.
"This is how empires fall. Any one of these solutions hurts one political constituency or another. Politicians promise they'll magic away the problem by making the economy grow faster."
Even new government can't cure what ails us.
Because the disease has already infected the lifeblood of our economies. And that disease is easy money.
When central banksters can print $60.9 billion out of thin air, who cares what we spend?
Because too much morphine kills even the healthiest patient. And now a dollar of spending no longer equals a dollar of growth. Because a full quarter of each new dollar has to go to pay the interest expense on the old debt.
That disease has our government on their knees. And someone’s always waiting in the wings, shiv in hand.
Mr. Socks just didn’t think it would be his deputy.
Et tu, Chrystia?
#BTC