The Dog Is Still Not Barking

Debt bombBack on August 3rd, 2019, I posted a piece titled “The Dog that Did Not Bark” on the occasion of the U.S. congress enacting and the president signing a “budget deal” which suspended the statutory limit on the national debt until July 2021.  A few days before, the House defeated an amendment which would have renamed the bill “A bill to kick the can down the road and for other purposes”.  I remarked that neither any of the Democrat presidential hopefuls nor President Trump had mentioned the deficit or the debt in any of their “debates” or rallies.

The only Presidential candidate who was talking about these issues was South Carolina former governor and congressman Mark Sanford, who was attempting a primary challenge to Trump with the debt and deficit as central issues.  On Wednesday, November 12th, Sanford “suspended” his campaign, just 65 days after announcing.  Sanford’s statement said, “I am suspending my race for the Presidency because impeachment has made my goal of making the debt, deficit and spending issue a part of this presidential debate impossible right now. From day one, I was fully aware of how hard it would be to elevate these issues with a sitting president of my own party ignoring them. Impeachment noise has moved what was hard to herculean as nearly everything in Republican party politics is currently viewed through the prism of impeachment.”... [Read More]


The Dog that Did Not Bark

Debt bombIn one of Heinlein’s stories (I forget which one, and the search engines haven’t helped on this odd query) a character awakes after having been in suspended animation for many years and catches up on what he’s missed by spending a few hours reading a history book, then remarks on how much time he would have wasted had he read a newspaper every day for all that time, reading about matters too ephemeral to make the history books.

If you do follow the news (I try to spend as little time as possible doing so), keep in mind that the most important thing may be what’s not in the daily news.  Many of the things that end up in the history books were complete surprises to those embedded in the “news cycle” and to the “experts” who feed it.  For example, check the newspapers for early October 1929, November 1941, October 1989, the latter half of 1990, or August 2001: you’ll find little or nothing about the imminent stock market crash, Pearl Harbor, fall of the Berlin Wall, collapse of the Soviet Union, or terrorist attacks in the U.S.  And yet, in retrospect, the circumstances which led to these “surprises” were in plain sight.  Thus, I’m always interested in the big story that none of the chattering classes are chattering about.  Which brings me to…... [Read More]