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Operation Disclosure | By David Lifschultz, Contributing Writer
March 12, 2021
THE U.S. DIGGING ITS OWN GRAVE
Compliments of the Lifschultz Organization founded in 1899
The 1.9 trillion billion relief bill is essentially a subsidy from the productive states to the unproductive states. New York City and New York State are bailed out in this transfer. This plays into the Civil War scenario painted by Ray Dalio of the 150 billion dollar Bridgewater Associates. It is important to understand the full implications in this relief bill.
The lockdowns created a situation in 2020 where a large part of the American work force could not work and were bailed out by trillions of dollars of economic stimuli. This is causing the US debt to skyrocket which is in October, 2020 27 trillion dollars. Our 2020 tax revenue was 3.42 trillion dollars. The interest paid on the US national debt was 2.2% on the ten year Treasury as a proxy or 378 billion dollars in interest. But this is not the end as our budget deficit is set to rise again this year probably another three trillion dollars if not more. What are these massive deficits going to do to us?
The question is what happens when the interest rates start to rise with inflation and the Federal Reserve is forced to put on the brakes. It will have two choices. Let the inflation rate rise or raise interest rates sufficiently to hold interest rates down. However, the US is going to find itself in a debt trap. If the Federal Reserve was smart, and the US, they would lengthen the debt maturities as far out as possible locking in the lower interest rates.
When the US inflated its way out of the OPEC oil increases in the 1970s I was called upon by number one of the deep state to write what became the Volcker plan to stop the inflation by monetary restraint. My plan was outlined in this press conference by Paul.
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Our interest rates were for Federal Funds rose from 11% in 1979 to 20% in June, 1981. The prime rate rose from 13.72% in 1981 to 21.5% in June, 1982 whose purpose was to stop the inflation or face a dollar hyperinflation wiping out the value of the dollar. My plan stopped the inflation in its tracks. We lowered interest rates based on a two hour meeting I had with Paul Volcker on the Delta Shuttle from New York City while our plane was delayed, where I directed him to reverse policy, and the economy started its expansion in 1983. Walter Wriston told me that my remedy had been too extreme but his ideas would not have worked. However, what I would have done to alleviate the suffering would have been to raise tariffs so that no jobs would be lost by the rising dollar but the deep state would not agree and I was only number two.
In 1979 the total debt of the US was 827 billion or 31% of the GDP. If all of it went to 20% interest, the interest bill would be 165 billion dollars. Tax revenue was 463 billion. Now, let’s say the US today has to pay 20% interest on the 27 trillion dollars of debt on a GDP of 20.93 trillion, then interest would come to 5.4 trillion a year. This is just a proxy as there are different maturities at different rates. But our total tax revenue above was 3.42 trillion dollars. Total expenses including interest was 4.82 trillion dollars. We could not even pay our 5.4 trillion of interest much less our defence budget, etc.. No one seems to understand the catastrophic path that we are pursuing.
The US is in the process of digging its own grave by these lockdowns and heading for a catastrophe of unprecedented proportions and political upheaval dwarfing the present commencement of Ray Dalio’s Civil War where over 15 million people have already left the north and California for the south comparable to German evictions after World War Two from areas of Germany that were taken by neighbouring countries. We have not seen anything like the social upheaval that is here now and growing which I compare to 1930s Germany.
The lockdown reset was an bad idea that may engulf the players in a manner they least expected. In other words, they will be completely overthrown as in Germany in 1933.
David Lifschultz
LIFSCHULTZ ORGANIZATION, Founded 1899
DAVID@LIFSCHULTZORGANIZATION.COM
Tel: (212) 688-8868
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