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2024-10-10 Economy

Insty's Take on the Coming Financial Collapse

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Posted by Craise Whelet4935 2024-10-10 00:00|| || Front Page|| [11131 views ] Top

#1 when he finally gets to offering suggestions:

"At the national level, we also need to be cultivating the seeds of a Millei moment. Javier Millei took the helm in Argentina under similar conditions of fiscal disarray, and is using that to slash the bureaucracy – including, significantly, state-controlled media – with considerable success. This country could use something similar. That means someone should look at what Millei has done and how Millei has made it work, and establish similar targets for the United States government.

And after the collapse, maybe a constitutional convention. In a foreword to the Tennessee Law Review’ssymposium on constitutional conventions, I included a number of proposals for amending the Constitution to prevent excessive government growth and indebtedness. These included a proposal to establish a House Of Repeal, a third house of Congress whose sole function would be to repeal existing laws. Also, a “no representation without taxation” provision: “Under an ideal system, everyone, regardless of income, would pay at least some income tax (enough to notice—say in the neighborhood of five percent of gross personal income), and the amount paid would fluctuate up or down in tandem with federal spending. More spending should hurt, at least a little.” That would be coupled with much stricter limitations on federal borrowing, to prevent Congressional end-runs."

Posted by Mercutio 2024-10-10 09:15|| 2024-10-10 09:15|| Front Page Top

#2 Indirectly, I'd suggest that if Congress doesn't approve individual appropriations by the start of the fiscal year for each department and agency, then all members of Congress are barred from elected or appointed federal offices for a period not less than 10 years. A hanging in the morning has a way of focusing one's attention.

Posted by Procopius2k 2024-10-10 10:02|| 2024-10-10 10:02|| Front Page Top

#3 Both #1 and #2, make them happen.

Posted by Besoeker 2024-10-10 10:33|| 2024-10-10 10:33|| Front Page Top

#4 a proposal to establish a House Of Repeal

A home for Musk.

Posted by Skidmark 2024-10-10 10:47|| 2024-10-10 10:47|| Front Page Top

#5 The guy who predicted the Trump assassination also foresaw an economic collapse

Posted by mossomo 2024-10-10 12:50|| 2024-10-10 12:50|| Front Page Top

#6 ^ neither of which took a stretch of the imagination

Posted by Mercutio 2024-10-10 13:39|| 2024-10-10 13:39|| Front Page Top

#7 I suppose a "House of Repeal" is more collegial than a "Bureau of Sabotage" (tm)

Posted by Mercutio 2024-10-10 13:40|| 2024-10-10 13:40|| Front Page Top

#8 ^😀

Posted by Grom the Reflective 2024-10-10 14:07|| 2024-10-10 14:07|| Front Page Top

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