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“ 'Great civilizations are not murdered. They commit suicide.' -Arnold Toynbee" -Jason Lowery's Soft War I'm 100% with you in that we're trying to drain Lake Superior with a hand bilge pump. Is it doing something? Sure, but is it really doing something? No not really. What I was hoping to see from Musk was a more system correction approach. We can't cut what we need by going through the line items. We must address the incentives of the system: members of government are motivated by getting more for their organization, their district, and their lobbyists. If we don't change that, the bureaucracy will grow until it dies under it's own weight, or is consumed by a more agile outside entity. I do expect that cuts will come with stimulus to counteract the reductions, the 8 month buy out to walk away from a GS position being the first example of many more to come. I think yield curve control is inevitable just with many fancy justification and names around it. Future Powell: "In order to provide stable prices without putting undue downward pressure on growth and the economy, we will be starting the treasury liquidity stabilization and stupendiocity program. It has extra stupendousness!!" Like Luke has said, you get the order wrong and we get an asset correction first, but in the end nothing stops this train. (I disagree with Luke that Musk will cut too hard and cause the correction though.)
Great analysis. Govt spending reminds me of caloric intake in a way- Cutting out bad calories without replacing them with good ones causes a deficit and the body will shrink. Cutting wasteful M2 is good as long as it is backfilled with other liquidity, otherwise the market and tax receipts shrink.
Pretty botched job if you ask me. Could be done more effectively with less collateral damage. Lasting and legal changes not the sensational paper gains they’re claiming. My god just cut Pentagon budget a few hecking points does more than jamminga bunch of folks who probably have some good intentions. Not every gov servant is just maliciously leeching off of “us” Distract! Distract! Steal!
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Think DOGE will be very good for American people, i don't think it will be a deflationary event, I believe the gains will flow to Americans in the form of less taxes, also interest rates will go down so all of these are more liquidity. About the US debt, Jeff Booth already said it, it's insolvent, no matter what. DOGE is just trying to do what a bitcoin standard enforces everyone doing, efficient capital allocation.