Connect with us

Money matters

The greatest problems facing the nation

Debt, especially national debt, is the greatest problem American faces today. And neither candidate is addressing it at all.

Print Friendly, PDF & Email



Debt and money word cloud

Hello this is Darrell Castle with today’s Castle Report. Today is Friday the 30th day of October in the year 2020. It is the day before Halloween, the penultimate day of October in this plague year. The authorities tell us that Halloween has been canceled this year because of the virus. We wouldn’t want any kids out having fun and possibly being exposed to the virus now would we. Right now, for my children, I would fear visible predators of the human variety more than invisible ones of the virus variety.

The Castle family is doing alright as we enter the Thanksgiving month. We are certainly thankful that our family is healthy and virus free as far as we know. The family daughter is still celebrating because her team, the Los Angeles Dodgers, won the World Series.

Election – a choice between freedom and dictatorship

Next Tuesday, the 3rd of November, is election day. Then the people will select a president to serve for at least the next four years. Sometimes people ask me if I am a supporter of Donald Trump, considering some of the things I said about him during his first term. In the words of my old friend Doug Casey, choosing a Republican instead of a Democrat would be like selecting a heart attack over terminal cancer.

My opinion of Donald Trump has always been driven by what he represents rather than who he is. And now the same is true for Joe Biden/Kamala Harris. To express more eloquently what I mean I defer to economist and commentator Dr. Paul Craig Roberts.

The November presidential election is not about a choice between a Republican and a Democrat, Trump or Biden/Kamala. It is about a choice between Trump and the Establishment.

You are voting for or against the establishment. If you vote against Trump, you are voting for your continued dispossession of your personal freedom, your independence, your income and wealth if any, your integrity, the First and Second Amendments, and any hope for your future and the future of your country. It is as simple as that.

Threats to the freedom of speech

Yes, it is, Dr. Roberts, as simple as that. It is a difficult struggle. For the antiestablishment forces must contend with the ministry of propaganda as well as with their opponents in the election. The media acting as the propaganda ministry of the Democrat Party has tried to turn the Hunter and Joe Biden laptop scandal into a Russian disinformation operation although as The Washington Post admits, they know it isn’t so. They all work together to defeat Trump at all costs, because they know what he represents. So they must act as propaganda ministry to ensure continued Elite control over Explanations of everything.

Let me add one more thought or reason as an explanation of what is at stake this time. Do you believe in free Speech? Well the Democratic Party doesn’t. Proof of this rather obvious fact, one can easily find by looking at The New York Post story about the Biden laptop scandal, if you can find it. Twitter and Facebook are hiding it from us. With the other members of the oh so progressive, but very illiberal press including NPR, CNN, The New York Times, and The Washington Post simply refusing to report it. These organizations used to be the vehicles that championed free speech. But now they act only as agents of the Democrat Party.

Ignoring the real problem: debt

The preceding statements constitute my explanation of why this election is the most important ever. I know someone says that every election cycle, but this time it just might be true. Now, I want to give you the reason why this election might not matter at all, and why those issues which should have been front and center in the debates did not even bear mention. This election just might be irrelevant because neither of the candidates is likely to solve the most important problems that confront us.

During the debates we saw as much of the personalities of the candidates as the moderators let us see. I personally didn’t see much from either candidate to indicate that he is worthy of holding the nation’s top office. I saw no trace of dignity, modesty, or even real intelligence as evidenced by the lack of understanding of this problem. They both seemed oblivious of the danger that lies ahead. Oh, we learned something of how they view climate change, COVID policy, and most importantly, white privilege. But nothing about how we will escape from our inescapable debt dilemma which confronts us.

Debt the country cannot repay

I am a bankruptcy and personal injury lawyer by profession. As a result have represented literally tens of thousands of clients in bankruptcy court over the last four decades. I therefore submit, that I am somewhat qualified to recognize a coming bankruptcy when I see it.

The federal government now owes over 27 trillion that it can’t pay as of the end of the fiscal year. (Which was September 30th.) The country, including the private sector, which is where I work, owes 80 trillion that it can’t pay. What is the problem with that? When we now know that money represents nothing but blips on a computer screen controlled by the Federal Reserve?

The problem is that the government has promised 76 million baby boomers who are the people who fought the wars, and paid the taxes over the course of their lives, that it will pay them some $210 trillion in entitlements which it does not have. Entitlements for pensions, medical coverage, and especially social security. Approximately ten thousand more people per day add to the total of our future dilemma.

No one wants to tell the truth about debt

How do both parties propose to handle this problem? Not by honestly telling the American people they and the politicians will have to man up to pay these benefits. You will have to let us reduce spending, and stop spending above our means, as will you the American people. You will have to save and store for the future. Because we made this mess and now, we must deal with it. That is the honest way. But honesty and Washington are rarely compatible.

No, it seems to be an impossible task to face truth for our candidates. It is far easier to serve as a simple distraction and talk only of white supremacy and climate change. Both have committed to papering over the unpayable debts with printed money. If you study economic and political history over the last 2500 years you will learn that the printing press always, always, leads to bankruptcy, poverty, depression, inflation, and social and political chaos. Each cycle of nations becomes a little more violent because of:

  • Advancing technology of violence, as well as
  • The rising population from violence prone third world countries.

Silence is not golden, not regarding this debt

The candidates, politicians in general, and the economists just keep silent because they know the truth doesn’t win elections. When you are approaching Niagara Falls in a rowboat and the roar from the falls is increasing do you row over to the shore and get out of the boat? No, it’s easier to just cover your ears and keep on going. The problem is that the party will not go on forever. Because eventually you reach the falls, and then what do you do?

We hear that the trillions of dollars in newly created “money” poured into the economy was a stimulus or a way to stimulate economic growth. Money created out of thin air will stimulate growth at first and for a short while. Economists tell us that the higher the debt to GDP ratio the less effect the created money will have. Until finally the effect becomes negative.

We can continue lying to ourselves and fudging the numbers to make them sound better. For example, the final numbers from the Treasury Department for the fiscal year end announced an official deficit of $3.1 trillion. That is more than triple last year’s numbers of $984 billion and double the previous record of $1.4 trillion from 2009, however the debt rose by 4.1 trillion, not 3.1.

Empires always collapse, debt or no

I know these economic statistics become meaningless after a while, and then our eyes cloud over. The point I’m trying to make is simple, though. The government owes far more than it can ever repay. Furthermore, it will not be able to meet its long term obligations to its people without creating an inflation fueled economic catastrophe. The fact that said catastrophe appears unavoidable means that the election is not as relevant as I first asserted. What does all this mean for us right now? I must admit that I do not know. So I examine history for past examples which may help explain our dilemma today.

Perhaps life in a debt fueled, multicultural society is not compatible with world empire. Whether it is or not, empires always collapse as Augustine told us in the early 400’s. He lived near the end of the Roman Empire’s greatest age and in a time of chaos and collapse. Rome saw its Empire decline and collapse over a period of about 400 years.

From the year 200 AD when it had a population of about one million to the two centuries after 400 AD, the population fell to roughly 20,000 due to violence, war, famine, disease, and most of all people fleeing all those things. The ruling elite participate and contribute to the collapse and chaos. Because they try to placate the people by continuing the very things that make civilizations die.

Politicians are not normal human beings

Politicians are quite a bit different from any normal human being. The politician can sometimes come from the ruling elite. But more likely, in this country, he spends his life trying to enter and be part of the ruling elite. He does that in part by ingratiating himself with the people necessary for him to gain and hold power. He is akin to a salesman who sees people from time to time and always knows them and greets them warmly, but inside he cares for nothing more than the sale.

The salesman cares for nothing except that you buy his product. He looks at you but he doesn’t see you. Just as the politician looks through you until election time, when he expects you to reward him with your vote so he can stay in power for another term. The salesman and the politician are thrilled to have your sale/vote, but they don’t respect you at all. In fact, they may regard you as a chump as Joe Biden said about Trump supporters.

Drunk on power while the debt piles up

The politician is intoxicated by the power he holds but also frightened by how easily it can be taken away. From time to time he must, therefore, appear among his inferiors and pretend to be their equals. People, in their desperation and gullibility, accept him. They even put a sign with his name on it in their yard. He goes from place to place speaking to all these dumb people, his inferiors, And he is tormented by the fact that he must do it all over again at dinner.

Such is his lust, his unquenchable desire for power, that he knows he must pay any price to have it. Do the people know that they are being used as political pawns? Most do not. So he quickly learns that he who pulls the most wool over the most eyes will win the election and stay in power. He then gets to be a member of the elite. Then he can participate in fouling up the world for a few more years. And the power is so precious, so glorious, he is almost god like at least in his mind.

Don’t vote for a user

Finally, folks, if you vote next Tuesday, you are being used as a political pawn or a chump by both politicians. You may think you are voting for what you want but, in fact, its only what he wants. Keeping that in mind, I would not vote for the elite if I were you. I encourage you not to vote for your own dispossession, or for the suppression of free speech.

At least that’s the way I see it.

Until next time folks,

This is Darrell Castle.

Print Friendly, PDF & Email
Attorney at Law at | Website | + posts

Darrell Castle is an attorney in Memphis, Tennessee, a former USMC Combat Officer and 2008 Vice Presidential nominee. Darrell gives his unique analysis of current national and international events from a historical and constitutional perspective. You can subscribe to Darrell's weekly podcast at

CATEGORY:Money matters
Click to comment
0 0 votes
Article Rating
Notify of

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inline Feedbacks
View all comments


Would love your thoughts, please comment.x