Are you a millennial who wants to get rich? Ok, forget that . . . here's some advice for nations which want to go broke . . .
Photo above - 1956, at the UN. Nikita Khruschev warns America's best days are behind it. Is his prediction finally coming true?
Sometimes there’s not enough absurd economic news on Yahoo or Google. The closest I got this morning was “Buffet’s advice if you want to get rich” (link below). Feel free to click on this and report back if it works. Especially if you’re one of the 80% of American’s living paycheck to paycheck. Remember though - we’re all gonna die, and almost nobody gets rich.
So I flipped the script. Today’s column is: my advice for nations that want to go broke. It’s a compendium of economic decisions that are impossible to bring success. Let’s dive right in . . .
Accumulate government debt of $37 trillion. That’s $300,000 for each of America’s 100 million families. Explain to us how we’re supposed to pay that back. And don’t say “corporate taxes”. They just pass it on to consumers. If makers can’t do that, they go bankrupt and then the workers lose their jobs.
Build 800+ military bases everywhere. Especially in places which have zero strategic value. Let’s start with Gitmo. And how about the 6 bases in Iraq (1 or 2 at most would do); there are 33 in Germany, but apparently of no value in protecting Ukraine; Djibouti (the African nation, not the animal); Niger; Kenya, Blefuscu . . .
Keep raising interest rates. If you think this is a winning strategy, please list nations which improved their living standards with unaffordable mortgage and construction rates.
Tariffs against every nation you share a border with
Fire hundreds of thousands of government employees with no investigation as to what they were even working on.
Hand total power over to a tyrant who refuses to leave office after decades (Russia and China, I’m looking at you)
Promise to provide free food, clothing and shelter to everyone (This has never worked. Not even in the richest places, like Beverly Hills)
Encourage television, sports, and online gaming as the best way for people to spend their free time.
Spend $16,000 a year per student on public education. Shrug indifferently when test scores are in the bottom half of the developed world. Vow to spend more.
Yeah, this is a lot to process. And yes, I'm trolling the anarchists, gamers and misfits here. Please show your links proving there's blue sky ahead.
I’m just sayin’ . . .
Warren Buffett’s Advice for Millennials Who Want To Get Rich