Weekly Roundup 10/13/22 (FASB accounting rules update, Warren’s letter to Texas, Howey’s orange groves) (EP.361)
On The Brink with Castle Island
Those Boomers Really Set It Up Well for Theirself, Right?
I think we're heading towards a fiscal crisis in this country with interest expense, defense spending, tax receipts coming down most likely and massive, massive entitlements. I don't know if people want to give on military. They can't give on interest. Not clear where the gap is. And of course, no one's buying treasury. So it's not clear where the fiscal gap would be filled. Well, I guess you could always raise taxes, right? But I don't think that would be very popular. That might be where we go, regardless of who wins this election.
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