It's The Debt, Stupid!_老虎社区_美港股上老虎

It's The Debt, Stupid!

zerohedge2021-03-18

Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration… “It’s the economy, stupid.” In January, Joe Biden took ...

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Yongshunn
·2021-03-18
Fear can be opportunity
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mandyc
·2021-03-18
Definitely
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ADL
·2021-03-18
its the silly people not the debt. lolol
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JoshyQ
·2021-03-18
😵😵😵
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_J_R_
·2021-03-18
Please please comment! Thank you!
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- lgnt:
  GOod
  2021-03-18
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AS78
·2021-03-18
Damn
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lihodinho
·2021-03-18
Greatssss
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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's The Debt, Stupid!\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-18 20:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/economics/its-debt-stupid>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nNearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…\n“It’s the economy, stupid.”\nIn January, Joe Biden took ...\n\n<a href=\"https://www.zerohedge.com/economics/its-debt-stupid\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.zerohedge.com/economics/its-debt-stupid","article_id":"1155328815","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1155328815","pubTimestamp":1616071669,"columns":[],"sourceInfo":null,"weMediaInfo":null,"summary":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the f","collect":0,"end_time":0,"defaultTopTitle":"zerohedge.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"是债务，笨蛋！","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…\n“It’s the economy, stupid.”\nIn January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.  And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.\nIt’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.\nBut the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.\nBiden has asked for a national mask mandate as a kind of Works Project Administration for the 21st century.  Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.\nNowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear.  In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.\nThey have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.\nThere’s an infinite gulf between respecting the power of something and living in fear of it.\nThat message applies equally to any health emergency as well as our governments.\nBut so much damage to the psyche of America has already been done.I see it all the time living in Florida.  I see it on the faces of the people coming in from the locked-down states.  They are afraid to walk freely.\nThey look like they were just released from prison.  Because they were.\nFrankly, they’re a bit freaked out about how casual we are about the whole thing.  And this isn’t to say we don’t still respect the virus.  But we won’t let it consume us with fear.\nFear is the antithesis of liberty.\nFear makes people crazy.  It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.\nAnd the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.\nThey sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.\nWhich brings me back to Bill Clinton and his four words that won the presidency back in 1992.\nPolitically, the Democrats are committing hari kiricontinuing this fear campaign.  Most people don’t want to live in fear. Most people went along with this out of politeness, not ideology.\nThey are fleeing the states with the most draconian laws concerning COVID.\nTheir businesses are gone.  Their children depressed if not suicidal.\nThe fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.\nThe unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.  While debt has its place in any good economic system, it’s use is also a two-edged sword.\nIt’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.\nDebt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.\nThe debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.\nAnd the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.\nDebt is the thing choking off any prospect of growth, post COVID.  This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.\nThe debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.\nSo, they aren’t even going to try.\nEvery day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.\nPaying our societal Visa bill with our Mastercard and hoping no one notices.\nThat’s why there’s all this worry today over rising interest rates.\nRising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.\nBut that doesn’t jibe at all with the “COVID will kill us all” narrative.  Even with the promise of vaccines they won’t let go of the fear.\nNow the CDC comes out and tells us we can act normally in our homes if we’ve been vaccinated, but not in public.\nDo they not understand how insane they sound?\nBiden and the Democrats want to have it both ways.  They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.\nFor the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.\nHe looks at the people in Texas and Florida and says, “Something’s not right here.”\nAnd we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”\nBecause it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.  It’s a loss of confidence in the people in charge of this insanity.\nBecause interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”\nThat’s what has the Biden administration spooked right now.  The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.\nWhen that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.  So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.","kind":"news","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":327816148,"gmtCreate":1616075975284,"gmtModify":1634527362187,"author":{"id":"3573619902166819","authorId":"3573619902166819","name":"Yongshunn","avatar":"https://static.tigerbbs.com/9012fdd920e4fb2d023488613b795275","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3573619902166819","authorIdStr":"3573619902166819"},"htmlText":"Fear can be&nbsp;opportunity&nbsp;","listText":"Fear can be&nbsp;opportunity&nbsp;","text":"Fear can be opportunity","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327816148","repostId":1155328815,"repostType":4,"repost":{"id":"1155328815","kind":"news","pubTimestamp":1616071669,"share":"https://www.laohu8.com/m/news/1155328815?lang=zh_CN&edition=full","pubTime":"2021-03-18 20:47","market":"us","language":"en","title":"It's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155328815","media":"zerohedge","summary":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the f","content":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-18 20:47\n\n</h4>\n</header>\n<article>\nNearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/economics/its-debt-stupid\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/economics/its-debt-stupid","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155328815","content_text":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…\n“It’s the economy, stupid.”\nIn January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.  And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.\nIt’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.\nBut the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.\nBiden has asked for a national mask mandate as a kind of Works Project Administration for the 21st century.  Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.\nNowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear.  In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.\nThey have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.\nThere’s an infinite gulf between respecting the power of something and living in fear of it.\nThat message applies equally to any health emergency as well as our governments.\nBut so much damage to the psyche of America has already been done.I see it all the time living in Florida.  I see it on the faces of the people coming in from the locked-down states.  They are afraid to walk freely.\nThey look like they were just released from prison.  Because they were.\nFrankly, they’re a bit freaked out about how casual we are about the whole thing.  And this isn’t to say we don’t still respect the virus.  But we won’t let it consume us with fear.\nFear is the antithesis of liberty.\nFear makes people crazy.  It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.\nAnd the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.\nThey sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.\nWhich brings me back to Bill Clinton and his four words that won the presidency back in 1992.\nPolitically, the Democrats are committing hari kiricontinuing this fear campaign.  Most people don’t want to live in fear. Most people went along with this out of politeness, not ideology.\nThey are fleeing the states with the most draconian laws concerning COVID.\nTheir businesses are gone.  Their children depressed if not suicidal.\nThe fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.\nThe unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.  While debt has its place in any good economic system, it’s use is also a two-edged sword.\nIt’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.\nDebt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.\nThe debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.\nAnd the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.\nDebt is the thing choking off any prospect of growth, post COVID.  This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.\nThe debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.\nSo, they aren’t even going to try.\nEvery day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.\nPaying our societal Visa bill with our Mastercard and hoping no one notices.\nThat’s why there’s all this worry today over rising interest rates.\nRising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.\nBut that doesn’t jibe at all with the “COVID will kill us all” narrative.  Even with the promise of vaccines they won’t let go of the fear.\nNow the CDC comes out and tells us we can act normally in our homes if we’ve been vaccinated, but not in public.\nDo they not understand how insane they sound?\nBiden and the Democrats want to have it both ways.  They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.\nFor the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.\nHe looks at the people in Texas and Florida and says, “Something’s not right here.”\nAnd we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”\nBecause it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.  It’s a loss of confidence in the people in charge of this insanity.\nBecause interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”\nThat’s what has the Biden administration spooked right now.  The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.\nWhen that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.  So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":327170965,"gmtCreate":1616074133157,"gmtModify":1634527381025,"author":{"id":"3573360226468507","authorId":"3573360226468507","name":"mandyc","avatar":"https://static.tigerbbs.com/539981f1200069269c04d3e7d42c27e0","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3573360226468507","authorIdStr":"3573360226468507"},"htmlText":"Definitely&nbsp;","listText":"Definitely&nbsp;","text":"Definitely","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327170965","repostId":1155328815,"repostType":4,"repost":{"id":"1155328815","kind":"news","pubTimestamp":1616071669,"share":"https://www.laohu8.com/m/news/1155328815?lang=zh_CN&edition=full","pubTime":"2021-03-18 20:47","market":"us","language":"en","title":"It's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155328815","media":"zerohedge","summary":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the f","content":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-18 20:47\n\n</h4>\n</header>\n<article>\nNearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/economics/its-debt-stupid\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/economics/its-debt-stupid","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155328815","content_text":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…\n“It’s the economy, stupid.”\nIn January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.  And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.\nIt’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.\nBut the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.\nBiden has asked for a national mask mandate as a kind of Works Project Administration for the 21st century.  Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.\nNowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear.  In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.\nThey have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.\nThere’s an infinite gulf between respecting the power of something and living in fear of it.\nThat message applies equally to any health emergency as well as our governments.\nBut so much damage to the psyche of America has already been done.I see it all the time living in Florida.  I see it on the faces of the people coming in from the locked-down states.  They are afraid to walk freely.\nThey look like they were just released from prison.  Because they were.\nFrankly, they’re a bit freaked out about how casual we are about the whole thing.  And this isn’t to say we don’t still respect the virus.  But we won’t let it consume us with fear.\nFear is the antithesis of liberty.\nFear makes people crazy.  It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.\nAnd the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.\nThey sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.\nWhich brings me back to Bill Clinton and his four words that won the presidency back in 1992.\nPolitically, the Democrats are committing hari kiricontinuing this fear campaign.  Most people don’t want to live in fear. Most people went along with this out of politeness, not ideology.\nThey are fleeing the states with the most draconian laws concerning COVID.\nTheir businesses are gone.  Their children depressed if not suicidal.\nThe fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.\nThe unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.  While debt has its place in any good economic system, it’s use is also a two-edged sword.\nIt’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.\nDebt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.\nThe debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.\nAnd the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.\nDebt is the thing choking off any prospect of growth, post COVID.  This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.\nThe debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.\nSo, they aren’t even going to try.\nEvery day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.\nPaying our societal Visa bill with our Mastercard and hoping no one notices.\nThat’s why there’s all this worry today over rising interest rates.\nRising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.\nBut that doesn’t jibe at all with the “COVID will kill us all” narrative.  Even with the promise of vaccines they won’t let go of the fear.\nNow the CDC comes out and tells us we can act normally in our homes if we’ve been vaccinated, but not in public.\nDo they not understand how insane they sound?\nBiden and the Democrats want to have it both ways.  They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.\nFor the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.\nHe looks at the people in Texas and Florida and says, “Something’s not right here.”\nAnd we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”\nBecause it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.  It’s a loss of confidence in the people in charge of this insanity.\nBecause interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”\nThat’s what has the Biden administration spooked right now.  The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.\nWhen that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.  So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":327147951,"gmtCreate":1616074052873,"gmtModify":1634527381606,"author":{"id":"3572161139823685","authorId":"3572161139823685","name":"ADL","avatar":"https://static.tigerbbs.com/46f309a3de1b3b77e46ca01bc05767be","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3572161139823685","authorIdStr":"3572161139823685"},"htmlText":"its the silly people not the debt.&nbsp; lolol","listText":"its the silly people not the debt.&nbsp; lolol","text":"its the silly people not the debt. lolol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327147951","repostId":1155328815,"repostType":4,"repost":{"id":"1155328815","kind":"news","pubTimestamp":1616071669,"share":"https://www.laohu8.com/m/news/1155328815?lang=zh_CN&edition=full","pubTime":"2021-03-18 20:47","market":"us","language":"en","title":"It's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155328815","media":"zerohedge","summary":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the f","content":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-18 20:47\n\n</h4>\n</header>\n<article>\nNearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/economics/its-debt-stupid\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/economics/its-debt-stupid","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155328815","content_text":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…\n“It’s the economy, stupid.”\nIn January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.  And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.\nIt’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.\nBut the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.\nBiden has asked for a national mask mandate as a kind of Works Project Administration for the 21st century.  Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.\nNowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear.  In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.\nThey have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.\nThere’s an infinite gulf between respecting the power of something and living in fear of it.\nThat message applies equally to any health emergency as well as our governments.\nBut so much damage to the psyche of America has already been done.I see it all the time living in Florida.  I see it on the faces of the people coming in from the locked-down states.  They are afraid to walk freely.\nThey look like they were just released from prison.  Because they were.\nFrankly, they’re a bit freaked out about how casual we are about the whole thing.  And this isn’t to say we don’t still respect the virus.  But we won’t let it consume us with fear.\nFear is the antithesis of liberty.\nFear makes people crazy.  It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.\nAnd the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.\nThey sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.\nWhich brings me back to Bill Clinton and his four words that won the presidency back in 1992.\nPolitically, the Democrats are committing hari kiricontinuing this fear campaign.  Most people don’t want to live in fear. Most people went along with this out of politeness, not ideology.\nThey are fleeing the states with the most draconian laws concerning COVID.\nTheir businesses are gone.  Their children depressed if not suicidal.\nThe fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.\nThe unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.  While debt has its place in any good economic system, it’s use is also a two-edged sword.\nIt’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.\nDebt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.\nThe debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.\nAnd the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.\nDebt is the thing choking off any prospect of growth, post COVID.  This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.\nThe debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.\nSo, they aren’t even going to try.\nEvery day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.\nPaying our societal Visa bill with our Mastercard and hoping no one notices.\nThat’s why there’s all this worry today over rising interest rates.\nRising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.\nBut that doesn’t jibe at all with the “COVID will kill us all” narrative.  Even with the promise of vaccines they won’t let go of the fear.\nNow the CDC comes out and tells us we can act normally in our homes if we’ve been vaccinated, but not in public.\nDo they not understand how insane they sound?\nBiden and the Democrats want to have it both ways.  They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.\nFor the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.\nHe looks at the people in Texas and Florida and says, “Something’s not right here.”\nAnd we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”\nBecause it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.  It’s a loss of confidence in the people in charge of this insanity.\nBecause interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”\nThat’s what has the Biden administration spooked right now.  The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.\nWhen that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.  So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":327140351,"gmtCreate":1616073340473,"gmtModify":1634527385175,"author":{"id":"3574925827192931","authorId":"3574925827192931","name":"JoshyQ","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"3574925827192931","authorIdStr":"3574925827192931"},"htmlText":"😵😵😵","listText":"😵😵😵","text":"😵😵😵","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327140351","repostId":1155328815,"repostType":4,"repost":{"id":"1155328815","kind":"news","pubTimestamp":1616071669,"share":"https://www.laohu8.com/m/news/1155328815?lang=zh_CN&edition=full","pubTime":"2021-03-18 20:47","market":"us","language":"en","title":"It's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155328815","media":"zerohedge","summary":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the f","content":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-18 20:47\n\n</h4>\n</header>\n<article>\nNearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/economics/its-debt-stupid\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/economics/its-debt-stupid","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155328815","content_text":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…\n“It’s the economy, stupid.”\nIn January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.  And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.\nIt’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.\nBut the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.\nBiden has asked for a national mask mandate as a kind of Works Project Administration for the 21st century.  Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.\nNowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear.  In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.\nThey have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.\nThere’s an infinite gulf between respecting the power of something and living in fear of it.\nThat message applies equally to any health emergency as well as our governments.\nBut so much damage to the psyche of America has already been done.I see it all the time living in Florida.  I see it on the faces of the people coming in from the locked-down states.  They are afraid to walk freely.\nThey look like they were just released from prison.  Because they were.\nFrankly, they’re a bit freaked out about how casual we are about the whole thing.  And this isn’t to say we don’t still respect the virus.  But we won’t let it consume us with fear.\nFear is the antithesis of liberty.\nFear makes people crazy.  It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.\nAnd the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.\nThey sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.\nWhich brings me back to Bill Clinton and his four words that won the presidency back in 1992.\nPolitically, the Democrats are committing hari kiricontinuing this fear campaign.  Most people don’t want to live in fear. Most people went along with this out of politeness, not ideology.\nThey are fleeing the states with the most draconian laws concerning COVID.\nTheir businesses are gone.  Their children depressed if not suicidal.\nThe fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.\nThe unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.  While debt has its place in any good economic system, it’s use is also a two-edged sword.\nIt’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.\nDebt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.\nThe debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.\nAnd the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.\nDebt is the thing choking off any prospect of growth, post COVID.  This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.\nThe debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.\nSo, they aren’t even going to try.\nEvery day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.\nPaying our societal Visa bill with our Mastercard and hoping no one notices.\nThat’s why there’s all this worry today over rising interest rates.\nRising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.\nBut that doesn’t jibe at all with the “COVID will kill us all” narrative.  Even with the promise of vaccines they won’t let go of the fear.\nNow the CDC comes out and tells us we can act normally in our homes if we’ve been vaccinated, but not in public.\nDo they not understand how insane they sound?\nBiden and the Democrats want to have it both ways.  They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.\nFor the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.\nHe looks at the people in Texas and Florida and says, “Something’s not right here.”\nAnd we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”\nBecause it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.  It’s a loss of confidence in the people in charge of this insanity.\nBecause interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”\nThat’s what has the Biden administration spooked right now.  The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.\nWhen that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.  So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":327158153,"gmtCreate":1616072855272,"gmtModify":1634527387373,"author":{"id":"3578740811020073","authorId":"3578740811020073","name":"_J_R_","avatar":"https://static.tigerbbs.com/ea3e25891715133cf383f8a5bbd5435a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3578740811020073","authorIdStr":"3578740811020073"},"htmlText":"Please please comment! Thank you!&nbsp;","listText":"Please please comment! Thank you!&nbsp;","text":"Please please comment! Thank you!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/327158153","repostId":1155328815,"repostType":4,"repost":{"id":"1155328815","kind":"news","pubTimestamp":1616071669,"share":"https://www.laohu8.com/m/news/1155328815?lang=zh_CN&edition=full","pubTime":"2021-03-18 20:47","market":"us","language":"en","title":"It's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155328815","media":"zerohedge","summary":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the f","content":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-18 20:47\n\n</h4>\n</header>\n<article>\nNearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/economics/its-debt-stupid\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/economics/its-debt-stupid","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155328815","content_text":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…\n“It’s the economy, stupid.”\nIn January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.  And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.\nIt’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.\nBut the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.\nBiden has asked for a national mask mandate as a kind of Works Project Administration for the 21st century.  Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.\nNowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear.  In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.\nThey have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.\nThere’s an infinite gulf between respecting the power of something and living in fear of it.\nThat message applies equally to any health emergency as well as our governments.\nBut so much damage to the psyche of America has already been done.I see it all the time living in Florida.  I see it on the faces of the people coming in from the locked-down states.  They are afraid to walk freely.\nThey look like they were just released from prison.  Because they were.\nFrankly, they’re a bit freaked out about how casual we are about the whole thing.  And this isn’t to say we don’t still respect the virus.  But we won’t let it consume us with fear.\nFear is the antithesis of liberty.\nFear makes people crazy.  It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.\nAnd the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.\nThey sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.\nWhich brings me back to Bill Clinton and his four words that won the presidency back in 1992.\nPolitically, the Democrats are committing hari kiricontinuing this fear campaign.  Most people don’t want to live in fear. Most people went along with this out of politeness, not ideology.\nThey are fleeing the states with the most draconian laws concerning COVID.\nTheir businesses are gone.  Their children depressed if not suicidal.\nThe fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.\nThe unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.  While debt has its place in any good economic system, it’s use is also a two-edged sword.\nIt’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.\nDebt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.\nThe debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.\nAnd the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.\nDebt is the thing choking off any prospect of growth, post COVID.  This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.\nThe debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.\nSo, they aren’t even going to try.\nEvery day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.\nPaying our societal Visa bill with our Mastercard and hoping no one notices.\nThat’s why there’s all this worry today over rising interest rates.\nRising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.\nBut that doesn’t jibe at all with the “COVID will kill us all” narrative.  Even with the promise of vaccines they won’t let go of the fear.\nNow the CDC comes out and tells us we can act normally in our homes if we’ve been vaccinated, but not in public.\nDo they not understand how insane they sound?\nBiden and the Democrats want to have it both ways.  They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.\nFor the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.\nHe looks at the people in Texas and Florida and says, “Something’s not right here.”\nAnd we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”\nBecause it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.  It’s a loss of confidence in the people in charge of this insanity.\nBecause interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”\nThat’s what has the Biden administration spooked right now.  The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.\nWhen that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.  So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3827081,"gmtCreate":1616074565998,"gmtModify":1635752594245,"authorId":3575265409091533,"author":{"id":3575265409091533,"idStr":"3575265409091533","authorId":3575265409091533,"name":"lgnt","avatar":"https://static.tigerbbs.com/1c510dc19933984119b9fc0dc1d30034","vip":1,"crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327158153,"type":1,"supId":0,"prevId":0,"content":"GOod","text":"GOod","html":"GOod"}],"langContent":"EN"},{"id":327150129,"gmtCreate":1616072401861,"gmtModify":1634527388967,"author":{"id":"3554958921608603","authorId":"3554958921608603","name":"AS78","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"3554958921608603","authorIdStr":"3554958921608603"},"htmlText":"Damn","listText":"Damn","text":"Damn","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327150129","repostId":1155328815,"repostType":4,"repost":{"id":"1155328815","kind":"news","pubTimestamp":1616071669,"share":"https://www.laohu8.com/m/news/1155328815?lang=zh_CN&edition=full","pubTime":"2021-03-18 20:47","market":"us","language":"en","title":"It's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155328815","media":"zerohedge","summary":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the f","content":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-18 20:47\n\n</h4>\n</header>\n<article>\nNearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/economics/its-debt-stupid\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/economics/its-debt-stupid","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155328815","content_text":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…\n“It’s the economy, stupid.”\nIn January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.  And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.\nIt’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.\nBut the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.\nBiden has asked for a national mask mandate as a kind of Works Project Administration for the 21st century.  Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.\nNowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear.  In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.\nThey have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.\nThere’s an infinite gulf between respecting the power of something and living in fear of it.\nThat message applies equally to any health emergency as well as our governments.\nBut so much damage to the psyche of America has already been done.I see it all the time living in Florida.  I see it on the faces of the people coming in from the locked-down states.  They are afraid to walk freely.\nThey look like they were just released from prison.  Because they were.\nFrankly, they’re a bit freaked out about how casual we are about the whole thing.  And this isn’t to say we don’t still respect the virus.  But we won’t let it consume us with fear.\nFear is the antithesis of liberty.\nFear makes people crazy.  It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.\nAnd the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.\nThey sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.\nWhich brings me back to Bill Clinton and his four words that won the presidency back in 1992.\nPolitically, the Democrats are committing hari kiricontinuing this fear campaign.  Most people don’t want to live in fear. Most people went along with this out of politeness, not ideology.\nThey are fleeing the states with the most draconian laws concerning COVID.\nTheir businesses are gone.  Their children depressed if not suicidal.\nThe fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.\nThe unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.  While debt has its place in any good economic system, it’s use is also a two-edged sword.\nIt’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.\nDebt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.\nThe debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.\nAnd the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.\nDebt is the thing choking off any prospect of growth, post COVID.  This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.\nThe debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.\nSo, they aren’t even going to try.\nEvery day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.\nPaying our societal Visa bill with our Mastercard and hoping no one notices.\nThat’s why there’s all this worry today over rising interest rates.\nRising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.\nBut that doesn’t jibe at all with the “COVID will kill us all” narrative.  Even with the promise of vaccines they won’t let go of the fear.\nNow the CDC comes out and tells us we can act normally in our homes if we’ve been vaccinated, but not in public.\nDo they not understand how insane they sound?\nBiden and the Democrats want to have it both ways.  They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.\nFor the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.\nHe looks at the people in Texas and Florida and says, “Something’s not right here.”\nAnd we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”\nBecause it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.  It’s a loss of confidence in the people in charge of this insanity.\nBecause interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”\nThat’s what has the Biden administration spooked right now.  The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.\nWhen that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.  So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":327126469,"gmtCreate":1616072050651,"gmtModify":1634527391569,"author":{"id":"3572873299266634","authorId":"3572873299266634","name":"lihodinho","avatar":"https://static.tigerbbs.com/ce26285dde6f61cce538452d66c2a6a9","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3572873299266634","authorIdStr":"3572873299266634"},"htmlText":"Greatssss","listText":"Greatssss","text":"Greatssss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327126469","repostId":1155328815,"repostType":4,"repost":{"id":"1155328815","kind":"news","pubTimestamp":1616071669,"share":"https://www.laohu8.com/m/news/1155328815?lang=zh_CN&edition=full","pubTime":"2021-03-18 20:47","market":"us","language":"en","title":"It's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155328815","media":"zerohedge","summary":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the f","content":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt's The Debt, Stupid!<blockquote>是债务，笨蛋！</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-18 20:47\n\n</h4>\n</header>\n<article>\nNearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…<blockquote>近三十年前，比尔·克林顿用四个简单的词赢得了总统大选，这四个词总结了老布什政府的失败……</blockquote> “It’s the economy, stupid.”<blockquote>“是经济问题，笨蛋。”</blockquote> In January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.&nbsp; And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.<blockquote>一月份，乔·拜登(Joe Biden)在一场摧毁全球经济的“大流行”后上任。据我所知，拜登认为COVID-19对美国来说比我们的应对措施对其经济造成的损害更危险。</blockquote> It’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.<blockquote>很难解析拜登说的任何话，因为在最好的日子里，他大多语无伦次。</blockquote> But the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.<blockquote>但新冠肺炎造成的党派分歧很深。这鼓励他和民主党人尽可能长时间地延长COVID比崩溃的经济更危险的说法，利用它来行使美国历史上前所未有的权力。</blockquote> Biden has asked for a national mask mandate as a kind of Works Project Administration for the 21st&nbsp;century.&nbsp; Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.<blockquote>拜登要求国家口罩授权，作为21世纪的一种工程项目管理。让我们带着恐惧走到一起，通过摧毁中产阶级和宪法来战胜病毒。</blockquote> Nowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear. &nbsp;In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.<blockquote>现在，这种分歧最明显的莫过于看看哪些州效仿佛罗里达州和北达科他州拒绝追随恐惧。在过去的一周里，德克萨斯州和密苏里州等重要州的州长取消了对建筑物的入住限制。</blockquote> They have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.<blockquote>他们开放了自己的州，同时公开蔑视拜登和媒体继续坚持害怕病毒。</blockquote> There’s an infinite gulf between respecting the power of something and living in fear of it.<blockquote>尊重某样东西的力量和生活在对它的恐惧中之间有着无限的鸿沟。</blockquote> That message applies equally to any health emergency as well as our governments.<blockquote>这一信息同样适用于任何卫生紧急情况以及我们的政府。</blockquote> But so much damage to the psyche of America has already been done.I see it all the time living in Florida.&nbsp; I see it on the faces of the people coming in from the locked-down states.&nbsp; They are afraid to walk freely.<blockquote>但是已经对美国的精神造成了如此大的伤害。我住在佛罗里达时经常看到这种情况。我在从封锁的州来的人们的脸上看到了这一点。他们害怕自由行走。</blockquote> They look like they were just released from prison.&nbsp; Because they were.<blockquote>他们看起来像刚出狱。因为他们是。</blockquote> Frankly, they’re a bit freaked out about how casual we are about the whole thing.&nbsp; And this isn’t to say we don’t still respect the virus.&nbsp; But we won’t let it consume us with fear.<blockquote>坦白地说，他们有点害怕我们对整件事的漫不经心。这并不是说我们不再尊重病毒。但我们不会让它用恐惧吞噬我们。</blockquote> Fear is the antithesis of liberty.<blockquote>恐惧是自由的对立面。</blockquote> Fear makes people crazy.&nbsp; It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.<blockquote>恐惧使人发疯。它剥夺了他们的理智，让肆无忌惮的政客肆无忌惮地为他们自己愤世嫉俗的目的煽风点火。</blockquote> And the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.<blockquote>当今愤世嫉俗的目的是世界经济论坛的大重置。它打算通过监控和数字货币完全控制资本流动，摧毁当前的经济，并更好地重建经济。</blockquote> They sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.<blockquote>他们向他们的选民推销这是一种可持续的绿色经济，一种建立在资本主义不公平的错误前提上的公平经济。</blockquote> Which brings me back to Bill Clinton and his four words that won the presidency back in 1992.<blockquote>这让我想起了比尔·克林顿和他在1992年赢得总统大选的四个字。</blockquote> Politically, the Democrats are committing&nbsp;hari kiricontinuing this fear campaign.&nbsp; Most people don’t want to live in fear.&nbsp;Most people went along with this out of politeness, not ideology.<blockquote>在政治上，民主党正在承诺左日继续这场恐惧运动。大多数人不想生活在恐惧中。大多数人同意这一点是出于礼貌，而不是意识形态。</blockquote> They are fleeing the states with the most draconian laws concerning COVID.<blockquote>他们正在逃离对COVID有最严厉法律的州。</blockquote> Their businesses are gone.&nbsp; Their children depressed if not suicidal.<blockquote>他们的生意都没了。他们的孩子很沮丧，如果不是自杀的话。</blockquote> The fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.<blockquote>恐惧是一种掩盖我们面临的真正问题的叙述，世界经济论坛和民主党人对此再清楚不过了。</blockquote> The unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.&nbsp; While debt has its place in any good economic system, it’s use is also a two-edged sword.<blockquote>侵蚀我们经济的不可持续性不是资本主义贪婪的结果，而是债务的结果。虽然债务在任何良好的经济体系中都有一席之地，但它的使用也是一把双刃剑。</blockquote> It’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.<blockquote>当您能够正确定价投资风险并以低于投资回报率的利率借钱时，就应该使用它，本质上是与借钱给您的人分享企业的利润。</blockquote> Debt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.<blockquote>债务是我们用来支付比尔·克林顿和他的继任者做出的所有这些社会承诺的东西。</blockquote> The debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.<blockquote>购买社会福利、大规模军队和不分青红皂白地过度教育我们的孩子而产生的债务，因为这些东西是没有限制的明确的社会商品，反映了美国政治体系的主要失败。</blockquote> And the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.<blockquote>当账单明显到期时，拜登政府仍在试图向我们推销这些想法。</blockquote> Debt is the thing choking off any prospect of growth, post COVID. &nbsp;This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.<blockquote>后COVID时代，债务是扼杀任何增长前景的因素。这种知识促使千禧一代做出奇怪的反叛行为，例如对Game Stop的股票进行空头挤压并抬高比特币的价格。</blockquote> The debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.<blockquote>包括欧洲在内的西方国家的债务如此之大，以至于现在甚至不可能考虑还清它。</blockquote> So, they aren’t even going to try.<blockquote>所以，他们甚至不打算尝试。</blockquote> Every day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.<blockquote>国会通过另一个刺激计划或另一个猪肉预算的每一天，都是我们发行新债来偿还旧债的又一天。</blockquote> Paying our societal Visa bill with our Mastercard and hoping no one notices.<blockquote>用我们的万事达卡支付我们的社交签证账单，希望没人注意到。</blockquote> That’s why there’s all this worry today over rising interest rates.<blockquote>这就是为什么今天人们对利率上升如此担忧。</blockquote> Rising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.<blockquote>在健康的经济中，利率上升应该是复苏的标志，是经济重新站稳脚跟的标志，因为对美元的需求在上升，预期的投资回报也在上升。</blockquote> But that doesn’t jibe at all with the “COVID will kill us all” narrative.&nbsp; Even with the promise of vaccines they won’t let go of the fear.<blockquote>但这与“COVID会杀死我们所有人”的说法完全不一致。即使有疫苗的承诺，他们也不会放弃恐惧。</blockquote> Now the CDC comes out and tells us we can act normally&nbsp;in our homes&nbsp;if we’ve been vaccinated, but not in public.<blockquote>现在疾控中心出来告诉我们可以正常行动在我们的家里如果我们接种了疫苗，但不是在公共场合。</blockquote> Do they not understand how insane they sound?<blockquote>他们不明白他们听起来有多疯狂吗？</blockquote> Biden and the Democrats want to have it both ways. &nbsp;They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.<blockquote>拜登和民主党希望两者兼得。在摧毁了我们的生计，同时告诉我们呆在家里后，他们希望大量刺激资金的承诺引发新的投资热潮。</blockquote> For the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.<blockquote>对于一个只知道自己有房租要付、工人休假、顾客破产、孩子得不到教育的门外汉来说，他并不关心政客和寡头的任何宏大梦想。</blockquote> He looks at the people in Texas and Florida and says, “Something’s not right here.”<blockquote>他看着德克萨斯州和佛罗里达州的人们说：“这里有些不对劲。”</blockquote> And we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”<blockquote>我们在佛罗里达看着他们说，“是的，这不是我们，你们！”</blockquote> Because it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.&nbsp; It’s a loss of confidence in the people in charge of this insanity.<blockquote>因为这不是我们现在面临的复苏，尽管像佛罗里达和德克萨斯这样的主要州现在的运作接近正常。这是对这种疯狂行为的负责人失去信心。</blockquote> Because interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”<blockquote>因为当投资者（债务的买家）看到前景并说：“不，我需要比十年期资金1%更好的回报，因为我认为你不太可能偿还我”时，利率也会上升。”</blockquote> That’s what has the Biden administration spooked right now.&nbsp; The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.<blockquote>这就是拜登政府现在所害怕的。他们通过新冠肺炎向我们投射的恐惧实际上是他们害怕我们不再相信从他们嘴里说出来的一句话。</blockquote> When that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.&nbsp; So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.<blockquote>当那一天到来时，很可能是今年晚些时候，利率将会以一种无论多少钱都无法控制的方式上升。所以，不管他们如何试图用免费的钱收买我们，他们只是在推迟他们将付出代价的那一天。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/economics/its-debt-stupid\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/economics/its-debt-stupid","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155328815","content_text":"Nearly thirty years ago Bill Clinton won the presidency with four simple words which summed up the failures of Bush the Elder’s administration…\n“It’s the economy, stupid.”\nIn January, Joe Biden took office in the wake of a ‘pandemic’ which devastated the global economy.  And to the best of my ability to parse, Biden believes COVID-19 more dangerous to America than the damage to its economy our response created.\nIt’s hard to parse anything Biden says because on the best of days he’s mostly incoherent.\nBut the divide along partisan lines engendered by COVID-19 are deep. It emboldens him and the Democrats to extend the narrative that COVID is more dangerous than a broken economy for as long as possible, using it to exercise unprecedented power in U.S. history.\nBiden has asked for a national mask mandate as a kind of Works Project Administration for the 21st century.  Let’s all come together in fear to beat the virus by destroying what’s left of the middle class and the Constitution.\nNowhere is that divide more pronounced now than in seeing which states have followed Florida and North Dakota’s lead in refusing to go along with the fear.  In the past week important states like Texas and Missouri have seen their governors lift occupancy restrictions on buildings.\nThey have opened their states while openly defying Biden and the media’s continued insistence on being afraid of the virus.\nThere’s an infinite gulf between respecting the power of something and living in fear of it.\nThat message applies equally to any health emergency as well as our governments.\nBut so much damage to the psyche of America has already been done.I see it all the time living in Florida.  I see it on the faces of the people coming in from the locked-down states.  They are afraid to walk freely.\nThey look like they were just released from prison.  Because they were.\nFrankly, they’re a bit freaked out about how casual we are about the whole thing.  And this isn’t to say we don’t still respect the virus.  But we won’t let it consume us with fear.\nFear is the antithesis of liberty.\nFear makes people crazy.  It robs them of their reason and allows unscrupulous politicians to run wild stoking it for their own cynical purposes.\nAnd the cynical purpose du jour is the World Economic Forum’s Great Reset. It intends to destroy the current economy and build it back better by taking total control over the flow of capital via surveillance and digital money.\nThey sell this to their constituency as a sustainable and green economy, an equitable one built on the false premise that capitalism is unfair.\nWhich brings me back to Bill Clinton and his four words that won the presidency back in 1992.\nPolitically, the Democrats are committing hari kiricontinuing this fear campaign.  Most people don’t want to live in fear. Most people went along with this out of politeness, not ideology.\nThey are fleeing the states with the most draconian laws concerning COVID.\nTheir businesses are gone.  Their children depressed if not suicidal.\nThe fear is a narrative to mask the real problem we’re facing, which the World Economic Forum and the Democrats know all too well.\nThe unsustainability eating away our economy isn’t a function of capitalism’s rapaciousness, it’s a function of debt.  While debt has its place in any good economic system, it’s use is also a two-edged sword.\nIt’s supposed to be used when you can properly price the risk of an investment and borrow money at a rate lower than the investment’s rate of return, in essence sharing the profit of the enterprise with the person who loaned you the money.\nDebt is the thing we’ve used to pay for all these social promises made by Bill Clinton and those who came after him.\nThe debt incurred for buying social welfare, a massive military and over-educating our children indiscriminately because these things are unequivocal societal goods without limit reflects the main failing of the U.S. political system.\nAnd the Biden administration is still trying to sell us on these ideas when it’s clear the bills are due.\nDebt is the thing choking off any prospect of growth, post COVID.  This knowledge is what animates the Millennial generation to strange acts of rebellion like creating a short squeeze on Game Stop’s stock and bidding up the price of Bitcoin.\nThe debt in the West, including Europe, is so large now it is impossible to even entertain ever paying it off.\nSo, they aren’t even going to try.\nEvery day that Congress passes another stimulus package or another pork-filled budget, is another day in which we reach the point where we’re issuing new debt to service the old debt.\nPaying our societal Visa bill with our Mastercard and hoping no one notices.\nThat’s why there’s all this worry today over rising interest rates.\nRising interest rates in a healthy economy are supposed to be a sign of recovery, of the economy getting back on its feet because the demand for dollars is rising and the expected return on investments is rising as well.\nBut that doesn’t jibe at all with the “COVID will kill us all” narrative.  Even with the promise of vaccines they won’t let go of the fear.\nNow the CDC comes out and tells us we can act normally in our homes if we’ve been vaccinated, but not in public.\nDo they not understand how insane they sound?\nBiden and the Democrats want to have it both ways.  They want the promise of oceans of stimulus money to spark a new investment boom after destroying our livelihoods while telling us to stay locked up in our homes.\nFor the layman who only knows he has rent to pay, workers on leave, customers going bankrupt and children not getting educated, he doesn’t care about any of the grand dreams of politicians and oligarchs.\nHe looks at the people in Texas and Florida and says, “Something’s not right here.”\nAnd we here in Florida look at them and go, “Yeah, and it ain’t us, y’all!”\nBecause it isn’t a recovery we’re now facing, even though major states like Florida and Texas are operating close to normal now.  It’s a loss of confidence in the people in charge of this insanity.\nBecause interest rates also rise when the investors, the buyers of the debt, look at the landscape and say, “Nope, I need a better return than 1% on ten-year money because I don’t think you’re likely to pay me back.”\nThat’s what has the Biden administration spooked right now.  The fear they are projecting onto us via COVID-19 is really their fear that we’ll stop believing a word that comes out of their mouths.\nWhen that day comes, likely sometime later this year, rates will rise in such a way that no amount of money will control.  So, no matter how much they try to buy us off with free money they’re just putting off the day when they will be the ones that pay the price.","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":19,"commentSize":7,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}