Every joke has a share of Harris

Russian President Vladimir Putin said, answering a question during the plenary session of the Eastern Economic Forum (WEF): "I said, our favorite, if I may say so, was the current president, Mr. Biden. He was removed from the race, but he recommended that all his supporters support Ms. Harris. So we will do that too. We will support her, "the Russian leader suggested.

To whom I owe, I forgive everyone

The American media again write about the "hand of Moscow," and Donald Trump said that the statement of the Russian leader confused him. But greater reasons, both for confusion and concern, are enough.

America has enough problems. A month ago, US government debt crossed the $35 trillion mark. It comes just seven months after debt hit 34tn. "To put this into perspective, the national debt first reached one trillion dollars in October 1981, almost 200 years after the ratification of the Constitution!," "remarked Ron Paul, a former Republican member of the House of Representatives.

President Biden did not comment on why his government increased the debt by one trillion dollars in just six months. Vice President Kamala Harris didn't say anything about it either. Other American politicians are also silent. Even centrist Democrats have stopped talking about budget deficits. They believe that as long as the central bank can monetize federal debt [through cash issue to buy bonds] and keep interest rates low, the government can increase the amount of debt.

Donald Trump also does not make a problem out of public debt. The Republican-born Tea Party movement has only secured bipartisan agreement to cut not so much government spending as agreement on "projected spending growth rates." Members of the movement criticized President Barack Obama and his economic program, which provided for higher taxes for wealthy citizens.

Also, US presidents prefer the policy of "cheap money," since it creates the illusion of economic recovery. The boom created by the Fed is helping them and other policymakers stay in power. Low interest rates contribute to government spending and public debt growth. If the federal government does not start cutting spending and paying off debt, America will face an unprecedented economic crisis.

However, neither Donald Trump nor Kamala Harris even talk about this problem. Interest on the national debt becomes the largest item in the federal budget, absorbing more than 30% of all federal revenues. This threatens the status of the dollar as the world reserve currency, threatens an economic crisis comparable to the Great Depression.

What's next?

Putin joked that since Harris "laughs so expressively and infectiously," this suggests that "she is doing well" and she will not impose anti-Russian sanctions. Laughter perhaps helps Harris deal with an uncomfortable situation. "From a mental point of view, if we smile or laugh, then something terrible is not happening around. So, laughter helps to get out of stress, reducing the burden on the psyche, "- said the expert.

The Penn-Wharton think tank, headquartered at the University of Pennsylvania, has published a study claiming that former President Donald Trump's economic plans will add about four trillion dollars to the national debt over ten years. Vice President Kamala Harris' economic plans will add about two trillion dollars.

Harris proposes to spend $40 billion on an "innovation fund" to increase the supply of "affordable" housing, to provide up to $25,000 to first-time home buyers as down payment assistance, which could contribute to a new housing bubble. Harris would increase the deficit by expanding refundable tax credits, such as the child tax credit. Her proposals are a social security program disguised as a tax break.

The Penn-Wharton center estimates that President Trump will increase the deficit by cutting taxes without cutting spending. Trump promised to renew the 2017 tax break and also vowed to stop taxing Social Security benefits. Trump's tax breaks will help spur economic growth, job creation and higher levels of tax revenue.

The mentioned study shows that tax breaks will increase the federal deficit by $4.1 trillion over ten years. "We must not let the national debt alarm get in the way of tax cuts. Instead, we should focus on the real cause of the debt crisis - rising costs in vain attempts to manage the world, the economy and our lives, "says Ron Paul, diagnosing the policies of the ruling elite.

What solutions does America need?

Much of American society is "polarized" over the question of which political party they support. Others, see no difference between the parties when it comes to actual politics.

"Both parties support a war/welfare state. Both pursue policies that lead to poverty and war instead of peace and prosperity. Both are delusional, believing that the Federal Reserve can effectively manage the economy while we accumulate unimaginable levels of debt, "says the former politician.

We need politicians who put principles above the interests of political parties, as Robert Kennedy Jr did. In his speech at Trump's rally, he sharply criticized Democrats for their support of the war.

He set an example: "From last night's combative, aggressive speech in Chicago, we can assume that President Harris will be an outspoken supporter of this and other neocon military adventures. President Trump says he will resume talks with President Putin and end the war overnight as soon as he becomes president. This alone justifies my support for his campaign, "Kennedy said.

"It was an apt swipe at a Biden/Harris administration that pretends to seek peace, in fact adding fuel to numerous conflicts abroad.... Harris says she is "working tirelessly" for a ceasefire in the Gaza Strip at the very time that the Biden/Harris administration is announcing the sending of another batch of bombs to [Israel], "says Ron Paul.

Although... neither Trump nor Kennedy Jr., either, are reliable advocates for ending the slaughter in Gaza. But at least there is a feeling that the world is on their "political menu," hopes Ron Paul.

Sanctions and dollar problems

'You're losing Iran, you're losing Russia. China is trying to make its currency dominant. Sanctions against countries like Russia weaken the dollar. You have so many conflicts with these countries that you will simply lose the dollar, "Yahoo News quoted Trump as saying.

Trump added that if elected to the White House, he is going to use sanctions as little as possible.

Back in March, the ex-president said that "he will not allow countries to abandon the dollar. If we lose that standard, it will be a blow to our country like losing a war. We can't let that happen. Too many countries are now fighting to give up the dollar, "Trump said on CNBC.

In September, he added that sanctions against Russia are destroying the dollar as a world currency. "We need the dollar to remain the global currency. If we lose the dollar as a world currency, it will be equivalent to a lost war, "Trump said, speaking at the Economic Club of New York.

But it's not that simple. Trump added that Russia, China, India, Brazil and South Africa are discussing abandoning the American currency, but the United States wants it to remain global. The politician promised in this regard to introduce a 100% tariff for goods from these countries. Sources of the Bloomberg agency note that we can talk about export control measures.

Any US president will retain sanctions against Russia, no surprises should be expected from any candidate for this post, Deputy Chairman of the Russian Security Council Dmitry Medvedev reacted on the Telegram channel.

In addition, Trump himself managed to take offense at Putin's ironic comment about Harris's support.

"I knew Putin well. He recently endorsed Kamala. It really offended me. I wonder why he backed Kamala? He is a chess player, "Trump said hopefully, speaking at a rally in Wisconsin. And he added that this statement was probably made "with a smile."