Tag: national debt

13-46 Economy or Environment, Bad Government is a Whale of a Mess

13-46 Economy or Environment, Bad Government is a Whale of a Mess

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Show 13-46 Summary: A blast from Oregon’s past, the national debt continues to blow up, and story from right here in Oregon about how bureaucrats are throwing themselves on the grenade of success. Plus, environmentalists have traded saving whales to killing them – as long as they get their billions of dollars. And those offshore windmills may not be as green as they’re made out to be.

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The I Spy Radio Show airs weekends, six different times, on seven different stations. Listen anywhere through the stations’ live streams! Check out when, where, and how to listen to the I Spy Radio Show. Podcast available Mondays after the show airs on out network of stations.

Original Air Dates: November 18th & 19th, 2023 | Guests: Jonathan Williams & Terry Johnson

This Week – Economics and Wind Farms

We start off this week’s show with a look back to Oregon’s “Exploding Whale” story. It’s as good a metaphor as anything for the state we find ourselves in. As in the general state of affairs but, yes, state of Oregon too.

Why? Because the exploding whale is a great example of bad ideas by government officials that make a bad situation even worse. And, yet still worse, government officials with those bad ideas don’t get fired. They get promoted up the ladder.

Where in reality does this make sense?

Bidenomics

We welcome back a good friend of I Spy, ALEC’s chief economist Jonathan Williams. With the US House once again passing a continuing resolution or “CR” to keep the government open, we see our national debt soar. Jonathan discusses the deficit and debt and why there’s a lot of hope of finally getting our government’s spending addiction under control with the new House Speaker, Mike Johnson, who is a former member of ALEC from when he served in the Louisiana House. There is also the matter of Moody’s downgrading the U.S. credit rating with our treasury sales taking a big hit. And a story from right here in Oregon of government throwing itself in the way of prosperity.

Because in Lane County, a factory originally built for $1.6 billion by Hynix, a chip maker, has been sitting idle for 15 years. Now, Stratacache wants to open it to make micro-LED screens (the kind you see as menu boards in fast-food restaurants) and will hire 100s of employees. They were even given a $19 million from the State of Oregon to get going. But Lane County is blocking them. Because they are demanding $2 million property taxes.

Can you believe this? (Well, it’s Oregon, so yes. Yes we can.) Three hundred workers at an average of $40,000 each is $12 million dollars of taxable income. Every year. But that bureaucratic whale-exploding mindset has taken over and they’d rather blow up the deal. Sacrifice $12 million to get $2 million. That’s government.

Hint: empty buildings produce nothing.

CFACT: Save the Whales

Who had “conservative organizations sue the government to protect endangered whales” on their 2023 bingo card? Anyone?

Decades ago, environmentalists — the real ones, not today’s latte crop — fought to save the whales. They would risk their lives to put their boats and rafts between whales and the harpoons of whaling vessels.

But that was then. Now there is 100s of billions of free taxpayer cash to be had. What’s a few endangered whale deaths when you can be given billions. If you support the green agenda. And offshore windmills that aren’t green.

What’s that you say? Windmills not green?

We talk with Collister Terry Johnson, a senior policy advisor about their fight to stop offshore wind farms. CFACT sent the government a 60-day notice of intent to sue. This is a legal requirement, giving the federal government time to correct a mistake or rule violation. In this case, violating the endangered species act by plopping all these wind farms off shore. Right in the middle of whale migration areas. Including the Right Whale, which is highly endangered with only about 350 of them left.

If the government fails to take action within the 60-day window, CFACT and The Heartland Institute, will sue. And this lawsuit could have far-reaching implications. Not just stop the Virginia offshore wind, which it’s aimed at. But even shut down existing wind farms.

These wind farms that only exist because of billions of those taxpayer dollars. But, it turns out, a new study has been released that shows that these offshore wind farms may not be “carbon neutral” after all. In fact, they may be putting more CO2 into the air than they help prevent.

Whoops. There goes the whole point of their existence in the green energy sphere.

We only learned about the study the morning of our interview. But you can bet we’ll dig into it in a future show. You can read it here: How Offshore Wind Drives Up Global Carbon Emissions.

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Show Notes: Research, Links Mentioned & Additional Info

Jonathan Williams’ Segments (1–3)

  • Jonathan’s organization is ALEC – the American Legislative Exchange Council. Find out more at ALEC.org.
    • Encourage your representatives to join ALEC! There are state and city memberships. Help elected officials understand economic problems and the real solutions available to get out of them! Send them this link: https://alec.org/membership/. And you too can join as a private-sector member!
  • Romney and Manchin Call for Commission to Stabilize US Debt (Yahoo News, Nov 9, 2023)
    • How very brave of two people who are leaving the senate.
  • Oregon income inequality grew again in 2021 (KLCC, Nov 13, 2023)
  • Salem payroll tax failing by large margin (Statesman Journal, Nov 7, 2023)
    • A citizen’s group forced Salem’s proposed tax on the ballot.  When people can actually vote on the outrageous they vote it down.
  • Oregon awarded millions to reopen a Eugene tech factory; a property tax fight could stand in the way (OregonLive, Nov 5, 2023)

Terry Johnson Segments (4–6)

  • CFACT issues “intent to sue” over offshore wind, releases new study (CFACT, Nov 14, 2023)
  • THE STUDY:
  • Collister (Terry) Johnson on “Joe Thomas in the Morning” shreds Dominion’s wind project (CFACT, Oct 12, 2022)
  • Repeal the Virginia Clean Economy Act (VCEA), Latest  News: Release Of Second Video and Calling For Investigation (Repeal the Virginia Clean Economy Act, No Date)
  • EXCLUSIVE: ‘Demonic’ off-shore wind farms are blamed for New Jersey whale deaths: Former SNL star reveals ‘green energy companies’ are sending ultra-loud blasts into water every 10 seconds that make mammals think predators are chasing them (UK Daily Mail, Nov 15, 2023)
  • Oregon tribes push back on offshore wind (Bend Bulletin, November 11, 2023)

Moody’s Downgrade of US Credit

  • Uh oh. Moody’s turns negative on US credit rating, draws Washington ire (Reuters, Nov 10, 2023)
  • Moody’s downgrades US debt rating outlook to negative (The Economic Times, Nov 11, 2023)*“Due to interest rate hikes by the US central bank to curb inflation, the cost of debt for the United States has ballooned, with Washington paying $162 billion more for interest in the last fiscal year compared to 2022.”

Worst Bond Market: Fewer Buyers Willing to Buy US Debt

  • 2022 was the worst-ever year for U.S. bonds. How to position your portfolio for 2023 (CNBC, Jan 7, 2023)
  • 2022: “The Worst Bond Market Ever: By history’s standards, stocks have not performed too badly, but bonds certainly have.” (Morningstar, Nov 21, 2022)
  • Government Bubble Burst: Treasury bond investors have been taking a historic beating. (Wall Street Journal, Oct 18, 2023)
    • “Although most of our national debt was issued when interest rates were low, that debt is quickly rolling over into a high-rate debt environment, and further borrowing continues. Without corrective action, interest costs could total more than $13 trillion over the next decade and $1.9 trillion per year by 2033.”
  • The collapse in Treasury bonds now ranks among the worst market crashes in history (Markets Insider, Oct 5, 2023)
    • Since March 2020, Treasury bonds with maturities of 10 years or more have plummeted 46%,  while the 30-year bond had plunged 53%.
  • Dreadful Treasury Auctions May Continue As Buyers Evaporate (Seeking Alpha, Nov 10, 2023)
    • “The 30-year Treasury auction on Nov. 9 was horrific. It saw one of the widest high-yield to median yield spreads since 1990 as the indirect acceptance rate plunged.”
  • The $24 Trillion Problem Haunting Wall Street (NY Intelligencer, Oct 18, 2023)
    • “When Wall Street sizes up the world’s risks, one way traders make their bets on the future is through the market in U.S. Treasuries.”
  • Demand for 30-Year Treasuries Proves Weak, Sending Yields Surging (Wall Street Journal, Nov 9, 2023)
    • “Primary dealers, big banks who are obligated to finance whatever portion of a Treasury auction isn’t purchased by other investors, bought nearly a quarter of the issuance. [That’s] more than double their average in recent 30-year auctions.”
13-39 Marxism in America | Cultural Marxism in our Schools and Spending

13-39 Marxism in America | Cultural Marxism in our Schools and Spending

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Show 13-39 Summary: Thanks to Joe Biden and the party formerly known as “democrats,” Marxism in America is on the rise. In our economy and in our society. We see it in our schools, as states push woke ideology on our children. And now, Marxism is a a core part of teacher hiring practices. We see it in government regulation. And a key element of Marxism is to break a country so it can be refashioned into a socialist utopia. Except they don’t exist and have never existed. But with our out-of-control government spending, we’re about to go broke.

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The I Spy Radio Show airs weekends, six different times, on seven different stations. Listen anywhere through the stations’ live streams! Check out when, where, and how to listen to the I Spy Radio Show. Podcast available Mondays after the show airs on out network of stations.

Original Air Dates: September 30th & October 1st, 2023 | Guests: James Hirsen and Joe Penland, Sr.

This Week – Cultural Marxism

In the wake of World War 1 and the disaster of Russia’s Marxist revolution, which left millions of dead Russians, Marxists the world over began to realize Marx focused too much on economics and not enough on culture. So they began infusing Marxism into culture, like how it was “greedy” to be successful. Or that the family unit needed to be attacked and torn down. So people would turn to the State as their family. And on and on it went. Until we arrive at today’s situation. Where Marxism in America is everywhere, even if you don’t know it.

But cultural Marxism isn’t just in Hollywood films and classrooms. Now it’s a hiring criteria for teachers. We check in with best-selling author, James Hirsen, about yet another new Marxist attack on our country: “Cultural Marxism Being Used in Teacher Hiring.”

That’s the title of James’s terrific new article—among many others. Check out all of his brilliant and insightful commentary on his website, JamesHirsen.com.

Marxism in Our Government

Thanks to FDR, who flooded the federal government with socialists, and to Harry Truman, who flooded the federal government with National Socialists (a.k.a., “Nazis”), our federal government — wait for it — is flooded with Marxists. Socialists, communists, and full-blown Marxists.

As a result, the conversion of our one-time-American government to Marxism is nearly complete. And we’re quickly speeding down the tracks to the last stop on the line.

Marxism in America isn’t always hidden. Sometimes, it’s right in our faces. Like our spending on socialized giveaways.

Our federal government has been spending trillions outside of its budget. Whenever you spend more than you budgeted, you have a deficit. And we’ve been spending about 20-30% beyond our budget every year for decades. Our national debt, which stands at $33 trillion (and growing fast), is the accumulation of all those years of spending more than our income.

We welcome first-time guest Joe Penland Sr., a successful businessman who also has over 26 years of banking experience. For the last year, he has been trying to wake Americans up to the tipping point of debt we are fast approaching.

All that debt and for what? When a business borrows, it’s typically to buy land or equipment. Hard assets. Which they will then use to generate more money. Effectively, they are borrowing the means to pay off the money they are borrowing. Not so with government. We are giving money away and getting no assets in exchange for those giveaways. (Unless you consider votes for more giveaways to be an asset.)

We talk to Joe about the hard decisions ahead.

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Trapped under a heavy object? Missed the show? Don’t worry—catch the podcast version. I Spy Radio is now available on your favorite platform, or you can grab it right here. See the full list of podcast options.

Show Notes: Research, Links Mentioned & Additional Info

Joe Penland’s Segments

Related Marxism in America Info

  • The Deep State Behind the Deep State (Liberty Sentinel, Sept 26, 2023)
  • Marxism hates the family structure. Check out this article: “AI girlfriends are ruining an entire generation of men” (The Hill, Sept 26, 2023)
    • It’s the statistics here that are so troubling: “America desperately needs people to have more babies, but all the signs are pointing toward fewer relationships, fewer marriages and fewer babies. There have been 600,000 fewer births in 2023 in the U.S. relative to 15 years ago. The number of children per woman has decreased by more than 50 percent in the last 60 years.”
    • “In 1940, there were 42 workers per beneficiary of Social Security. Today, there are only 2.8 workers per beneficiary, and that number is getting smaller.”

 

 

13-09 Insane Government Spending – 2023 Essential Policy Solutions

13-09 Insane Government Spending – 2023 Essential Policy Solutions

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Show 13-09 Summary: This week, it’s all about insanity. Meaning, our governments’ insane spending that shows no signs of letting up. And that there’s just always more money on the national credit card. So when the inmates are running the asylum, what can we do about government spending? We talk with Jonathan Williams of the American Legislative Exchange Council. ALEC has just released its 2023 Essential Policy Solutions, which should be required reading for every legislator out there. Listen in for policies, economic and otherwise, that make sense in an insane world.

Coverage Map of I Spy Radio Show broadcast areas, as of June 2021
Current I Spy Radio broadcast areas. Click for full-size map.

The I Spy Radio Show airs weekends, six different times, on seven different stations. Listen anywhere through the stations’ live streams! Check out when, where, and how to listen to the I Spy Radio Show. Podcast available Mondays after the show airs on out network of stations.

Original Air Dates: March 4th & 5th, 2023 | Guest: Jonathan Williams

This Week – Government Spending. It’s Insane.

The American Legislative Exchange Council (or ALEC), is celebrating its 50th anniversary this year. If you don’t know, they work with state legislatures — the 50 test tubes of democracy — to pass legislation that upholds principles of limited government, free markets and federalism You don’t last 50 years if you’re not having successes. And ALEC has had tremendous success stories. Including encouraging states to lower taxes. Even adopting a flat tax.

Don’t miss it! Be sure to RSVP for The Capital City Republican Women’s Luncheon, March 9th, 2023, starting at 11:30am (Mark will start his presentation at noon). To RSVP, send an email to CCRWSalem@Reagan.com. Lunch is $14. Coffee is $2. No cost to just come listen. Location will be sent to you after you RSVP.

This week, we talk with Jonathan Williams, ALEC’s Executive VP of Policy and their chief economist, about the insane government spending. After blowing through $1.9 trillion in the “American Rescue Plan” and another $2 trillion with Build Back Better, and still trillions more — in just 2 years — we’re facing a looming showdown over the federal debt ceiling. Addicted to government spending, Biden and the democrats don’t want any spending cuts. Of course not.

Maybe it’s because they just spent $360 billion on “global warming” and climate change in the most recent $1 trillion “inflation reduction act.” None of that money is going to conservatives or conservative organizations. So of course the democrats don’t want any cuts to government spending. That would be cutting off cash to their political cronies.

Government Spending: 2023 Essential Policy Solutions

Fortunately, to tackle this insane government spending ALEC has just released its 2023 Essential Policy Solutions. This essential guide is definitely essential for every state legislator.

Get your free copy! Download the PDF version of the 2023 Essential Policy Solutions. And then email it to all your legislators!

Jonathan Williams walks us through some of the more exciting solutions. Not just for government spending but also price transparency for hospitals and health care but also some model legislation for school choice.

The I Spy Radio Show Podcast Version

Trapped under a heavy object? Missed the show? Don’t worry—catch the podcast version. I Spy Radio is now available on your favorite platform, or you can grab it right here. See the full list of podcast options.

Research, Links Mentioned & Additional Info

  • Essential Policy Solutions for 2023 – (American Legislative Exchange Council, March, 2023). Free PDF! Download it and email it to your legislators!
  • RSVP for The Capital City Republican Women’s Luncheon, March 9th, 2023, starting at 11:30am (Mark will start his presentation at noon). To RSVP, send an email to CCRWSalem@Reagan.com. Lunch is $14. Coffee is $2. No cost to just come listen. Location will be sent to you after you RSVP.
  • US stocks enter ‘death zone’  (Daily Mail, Feb 2023)
    • Morgan Stanley issues dire warning to investors who ‘followed prices to dizzying heights’ amid fears S&P 500 could plummet 26% within months.
  • American Rescue Plan (Biden’s $1.9 Trillion Stimulus Package (Investopedia, updated Sept 21, 2022)

Additional Related Research, Not Specifically Mentioned