During the 14th commercial yesterday for DraftKings, the website that tries to get us to gamble on football while watching football, I noticed a small disclaimer in the corner of my television screen.
It read something like: "If you or someone you know has a gambling problem, please call" this 1-800 number.
It's incredible to watch the commercials blast in your face how much money you can make betting the Quadruple Parlay against the Green Bay Packers... and then put in small letters that you might be the problem.
It's someone else's money!!! Who cares! We're gonna live forever!
Interestingly, CNBC doesn't have similar disclaimers when discussing meme stocks or options strategies... or warnings that "if you or your family member have a problem with trading," you should call a support number.
After all, the average sports gambler has a better track record than the average day trader.
These disclaimers are the byproduct of regulation. When sports gambling licenses became legal a few years back, states put rules in place that consumers needed access to support to address any addiction. This information needed to be a part of the marketing for these services.
But it's odd to me... because the people who need the disclaimer most on bad bets are the people in charge of the Public Treasury.
No one is worse with money...
It's time for disclaimers for our Congressional leaders... or Treasury Department leaders? Before they take a vote on spending or issue a Bond Auction for $25 billion, someone should have to sign a waiver telling them that they're bad with other people's money... and they have a problem.
Seriously...
Is there a number where I can report Janet Yellen for her compulsive spending addiction?
This Oniomaniac Can't Stop
Janet Yellen spends Americans' money like she hates it.
It's like she's allergic to the green stuff.
The clinical term for compulsive spending habits is 'oniomania." (This condition affects 8% of the U.S. population, according to BigThink.)
Want to run a $2 trillion deficit? No problem.
Where does Janet Yellen sign up?
Want to start a war?
Yellen has your weapons spending lined up.
How about a second war? No problem.
She seems giddy about the prospect.
When asked in an interview with Sky News if the U.S. can afford to support two wars - Israel and Ukraine - Yellen jumped at the opportunity to spend money.
"I think the answer is absolutely," she said.
Did anyone bother to ask her to define the word "money?"
She continued:
"America can certainly afford to stand with Israel and to support Israel's military needs, and we also can and must support Ukraine in its struggle against Russia. The American economy is doing extremely well."
Forget that U.S. Debt to GDP is 122%, a figure from which it's practically impossible to recover. Forget that the IMF just warned that we're barreling toward the point of no return on our long-term debt spending.
Yellen says the American economy is doing "extremely well."
How well?
It's so well that we're running a $2 trillion deficit... in "good times."
If this economy is "well" - with 8% mortgage and 23% credit card rates...what will it look like if tax receipts collapse in April 2024?
This is Banana Republic-level territory fiscal mismanagement.
More Energy! (More Spending!)
Don't worry, dear reader, there is some good news.
We all know that if there's one thing Banana Republics do as well as debasing their currencies... it's lining up beside other Banana Republics.
Turns out, there's about to be more oil production in the Western Hemisphere.
But don't get your hopes up. It's not here in the United States.
It's not expanding production in the Gulf of Mexico. And it's not liberating Alberta, Canada, from the incompetence of the Canadian parliament.
Nope... We're about to allow more oil production in... Venezuela.
Banana Republics Unite!
The Yale Lawyers in charge are back with their latest plan to try to get more oil produced - without freeing up our U.S. producers.
This time - we're not signing deals with Iran or bending a knee to Saudi Princes. This time, we're returning to the most oil-rich nation on the planet... whose entire industry was destroyed by socialism and ineptitude.
The U.S. will now return to negotiate with failed socialist leaders to discuss eliminating sanctions on the nation. According to an economist at Capital Economics, it would increase production output in Venezuela from "very depressed levels."
There's just one major problem. Venezuela's collapse destroyed oil output. It put its oil infrastructure into a decrepit state... and will require incredible money to rebuild it. And that's not going to be cheap.
So, where's that money coming from?
I'll give you three guesses; the first two don't count.
And what do we get out of it?
We'll import their oil... And in exchange for fewer sanctions, the U.S. demands that the nation enable a "freer Presidential election."
So, the place that had a socialist revolution, had a fraudulent election in 2018, jailed political opponents, seized capital assets, and destroyed its economy in the name of "the people" - all while enriching a dictator and fueling a massive exodus of citizens from the nation - is now trustworthy?
Does anyone sense a pattern here? Does anyone see what's wrong?
The United States could increase its oil production, boost its energy infrastructure, build more ships - and put more Americans to work... and boost GDP. This would contribute to economic growth that we could put against the massive deficits that this government creates...
Apparently, we're going the route of the Dick Cheney model instead.
We'll rebuild infrastructure in a foreign nation, empower contractors elsewhere, and then import oil that counts against our GDP.
There's not enough Long Drink at the Publix to make this make sense.
Now What?
Clearly, the people in charge aren't interested in anything besides preserving power and spending away the future.
I'd sound shocked, but I've seen this movie so many times that it's rivaling the Fast and Furious franchise for the number of bad sequels.
All we can do in the Florida Republic is control what we control best.
That's our health, our wealth, and ourselves. As we continue to build the Republic, we'll tap into the bigger trends, allowing us to ignore all this incompetence. Energy is a critical part of that wealth generation, regardless of where the oil and gas is produced.
Naturally, I'd prefer to focus on the Texas fields, where we already have ample exposure and great companies producing cash flow.
Stay positive,
Garrett Baldwin
Secretary of Defense