Great podcast. I actually live about 5 minutes from where Johnny and June Cash are buried. The Nashville area is a great place to be. I LOLed at Jerome Powell not having to do anything... as if that clown had done anything besides fiddle*ck around and ignore inflation. He and Yellen are like a short bus version of the Wonder Twins.
The big question for spending cuts, balancing the budget, and reducing the national debt will be whether or not Congress puts down the crack pipe and gets with the program. DOGE and Trump are taking out the low-hanging fruit, but the real meat of the savings needs to come from eliminating entire government departments and entire billets that are either useless or redundant and entitlement reform. And they need to stay vigilant about how costs are being cut and making sure the departments/billets are actually being cut and not just transferred elsewhere.
It brings back memories of when sequestration happened and Obama closed federal parks that weren't even staffed, as a way to throe a tantrum and "make the loss felt". At the same time, the military cut out a lot of the most important things but kept all pf the wasteful nonsense that they blew money on. They put us on fuel rationing, reduced maintence, and stuff like that, so they could scream and cry about how it impacted military readiness. But then I still saw the higher ups blowing money left and right like it was Monopoly money. Those are the kind of games that everyone will try to play again, and it will require people who are both committed to cutting costs and know enough to be able to see through games like that.
Re: Average homebuyer age = 56... I agree. Why? Young people can't afford to buy and they don't have enough credit to meet bank thresholds. Therefore, PARENTS of 20-30 somethings are loaning/gifting/pre-funding inheritance to buy their kids homes. It makes sense.
Love the trading stories, keep em coming!
Ha. thanks Ethan.
Great podcast. I actually live about 5 minutes from where Johnny and June Cash are buried. The Nashville area is a great place to be. I LOLed at Jerome Powell not having to do anything... as if that clown had done anything besides fiddle*ck around and ignore inflation. He and Yellen are like a short bus version of the Wonder Twins.
The big question for spending cuts, balancing the budget, and reducing the national debt will be whether or not Congress puts down the crack pipe and gets with the program. DOGE and Trump are taking out the low-hanging fruit, but the real meat of the savings needs to come from eliminating entire government departments and entire billets that are either useless or redundant and entitlement reform. And they need to stay vigilant about how costs are being cut and making sure the departments/billets are actually being cut and not just transferred elsewhere.
Agree on a lot of this Chris. Thanks for the feedback.
It brings back memories of when sequestration happened and Obama closed federal parks that weren't even staffed, as a way to throe a tantrum and "make the loss felt". At the same time, the military cut out a lot of the most important things but kept all pf the wasteful nonsense that they blew money on. They put us on fuel rationing, reduced maintence, and stuff like that, so they could scream and cry about how it impacted military readiness. But then I still saw the higher ups blowing money left and right like it was Monopoly money. Those are the kind of games that everyone will try to play again, and it will require people who are both committed to cutting costs and know enough to be able to see through games like that.
Re: Average homebuyer age = 56... I agree. Why? Young people can't afford to buy and they don't have enough credit to meet bank thresholds. Therefore, PARENTS of 20-30 somethings are loaning/gifting/pre-funding inheritance to buy their kids homes. It makes sense.
somethings gotta give.
Tony: Great story about the oil trader! Keep'em coming. It was good to see you in Vancouver, Victor