Doug Casey; a self-described anarcho-capitalist atheist from an uber wealthy family whose law degree from Catholic University (or Georgetown – various different reports), worked in ‘department store analysis’, all of which somehow gives him expertise in Economics and Finance, is quite visibly denigrating President Trump as a liar and estranged from reality. Calling for a 1929 Depression. His views have been prominently displayed across major media – why?
He has ego – and he has money.
Tariffs directly impact the most wealthy simply because they spend on extravagances. Whereas, federal taxes can be manipulated with offshores and write-offs. The point of the Tariffs was to leverage the elimination of federal taxes – as espoused by the Libertarian, Heritage Institute. For some reason, Casey’s Libertarianism is defined differently.
The Casey Solution to Government Debt: “ make chainsaw-like cuts to entitlements, national defense, and welfare while reducing the national debt to lower the interest cost.” Reducing the debt means making payments. With a One Trillion interest liability per year, where are those ‘payments’ going to come from?
Casey promotes the actions of “Libertarian” Milei arguing Argentina instituted reforms in their government that have caused low property values, a mining boom, and the collapse of ‘certain regions’ which gives the moneymen a chance to make more money. What Casey FAILS to note is that Argentina’s poverty rate is now 57.4%. Food lines cannot meet demand. And the middle class is completely lost. Yet somehow, Casey feels this is the best parallel for America to follow.
In other words, Casey sees Argentina’s absolute spiral into hell as a means for him to make money and this is how he views America. I seriously doubt that a 60% poverty rate in America would be met with Hallelujah’s!
The median salary in Argentina is $370 per month ($4440 per year) – poverty wage is $272 per month. The bank interest rate is 31.81%. The cost of a home is between $40,000 and $600,000. Obviously home ownership is nonexistent. To live comfortably in Argentina, a foreigner would need $2425 per month – yet the average Argentinian only makes $370 per month. Casey owns a wine and residential sporting estate project called Estancia de Cafayate in Salta Province, Argentina.
La Estancia de Cafayate is a 550-hectare (1360 acre) secluded wine and residential sporting estate that includes Vineyards, Golf, Polo, Spa, Gourmet Restaurant, Luxury Hotel and horses. Cost to build: $863 Million. The homes run in the range of half a million – NOT for the peasants.
Full Disclosure.
This is Casey’s success story! Self-adulation.
But it reveals where his allegiance lies – investing for himself to make more money on the backs of those in poverty. Speaking of which, bank profits are coming in with stellar reviews given the high interest rates that have impacted the little people. JP Morgan beat the earnings per share crystal ball by nearly 10%. Bank of America by 7%, while the Bankers all foretold of earnings collapse under the Trump Tariff plan. WHY? Bankers stand to lose under a lower dollar. Why? Because tariffs by default hit Wall Street while helping US businesses extend exports as the dollar falls. A form of wealth redistribution to the local economy – away from the 10% that own Wall Street. Project 2025, written by Libertarians explains how the tariff imbalance has impacted US exports and specifically farmers, ranchers, manufacturers and workers. Who it does NOT mention are “Bankers”.
Last year Jamie Dimon of JP Morgan coughed up a $39 million compensation package. $37 million of the package was in the category of ‘performance bonus’ given the bank’s profits were up massively as the peasants suffered under inflation and interest rates. The average credit-card rate is now 20-25% with the highest coming in at a whopping 40%! Tariffs discourage borrowing and thus, discourage bank profits at USURY. Usury being tied to every major expelling of Jews historically.
Banks and Bankers are not here to help the 90%, they are here to make money for the 10% – so when they scream at Trump’s tariffs it is because they know it will hurt ‘them ‘.
Argentina is descending into the depths the Weimar Republic descended into. it will take a strong leader as the Weimar Republic had to bring Argentina out.
The elites are losing money and influence, they are mad as hell over it.
So, they have this media blitz going, with their tools all reading from the same script. The script says that the elimination of trade barriers and other obstructions to commerce will cause economic collapse. That is a classic inversion.
Regarding this quack Casey, the debt can be eliminated over time with gradual cuts, especially given the DOGE discoveries. It’s called management Casey. We already have over $1 T identified to be removed.
Sometimes the best way to play is to not play at all.
The modern world has become a gamble in many ways. We can thank reserve banking for much of this. Bubbles all around and more to come, until it works no more.
It takes a strong person to resist the allures.
I resisted.
when a man does nothing – nothing happens
So thanks for revealing some tidbits about Doug Casey. He has been on YouTube a lot lately.
he’s 100% about MONEY