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Ripple Effect

U.S. Government Spent 51% More Than It Took In Last Month

Loading ...Addison Wiggin

September 15, 2025 • 1 minute, 31 second read


debtdeficit

U.S. Government Spent 51% More Than It Took In Last Month

President Trump is happy that tariff taxes reaped by the government continue to grow.

For August, the U.S. government collected $30 billion in tariffs.

That’s good news if you’re a government bean counter.

However, tariff revenue still only makes up 10% of total government revenue. Back in April, Trump flirted with the idea that tariffs could lower or eliminate income taxes.

Politically, the idea sounds great.

In reality the numbers don’t come close.

The $344 billion the government collected from all forms of taxes last month is just 49% of the $689 billion it spent:

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The U.S. continues to run massive peacetime deficits. (Source: U.S. Treasury)

In other words, the government spent more than half of the money again, as much as it earned last month. Imagine how long spending like that would last if it were your family budget.

This week, the semi-annual budget theatre returns to Washington, D.C. House Speaker Mike Johnson will be making his rounds trying to justify another continuing resolution to keep the government open. All the while, the hard math of demography will grind away at the fabric of U.S. empire.

~ Addison

 

P.S. Politics are exerting pressure on money market funds, too.

This week on Grey Swan Live! with Adam O’Dell – at 2 p.m. ET, Thursday, September 18, 2025 — we’ll be investigating the $10 trillion pile of cash sitting on the sidelines during the terrifying bull market on Wall Street.

Mr. O’Dell has been warning investors how impending changes to monetary policy are going to force savers out of cash and into the markets… or gold. More details to come. Sign up now to become a member and join us for this week’s call.

If you have any questions for us about the market, send them our way now to: feedback@greyswanfraternity.com.


The Debasement “Trade”

November 18, 2025 • Mark Jeftovic

Bitcoin isn’t a trade and trying to time it with chart patterns generally does not work.

I’ve never really felt like technical analysis carried much real predictive edge in general and when it comes to BTC, I’ve seen too many failed “death crosses” to change my opinion.

The one that just triggered in mid-November as bitcoin flirted with $90,000 is just the latest.

What really matters? It’s a monetary regime change – if market participants are trading anything it’s getting rid of a currency (“it’s the denominator, stupid”) for a store of value – and we’re seeing it in spades with Bitcoin and gold.

The Debasement “Trade”
The Cult of Stock Market Riches

November 18, 2025 • Addison Wiggin

White-collar hiring is, in fact, slowing. Engel’s Pause is taking hold of the jobs picture.

In the meantime, everyday Americans are rediscovering an ancient truth: there is wisdom in wearing steel-toed boots.

Jobs that struggle to attract bodies in boom times are now seeing stampedes of applicants.

– Georgia’s Department of Corrections: applications up 40%.

– The U.S. military: reached 2025 recruiting goals early.

– Waste management staffing: applications up 50%.

For now, economists call this “labor market tightness.” Anyone who has ever scrubbed a grease trap knows it by another name: fear.

The Cult of Stock Market Riches
Whales Buy the Bitcoin Dip

November 18, 2025 • Addison Wiggin

Bitcoin has historically weathered 30%+ corrections while still in a bull market. 

Global liquidity fears and lower odds of a Fed rate cut in December are driving bitcoin and other cryptos lower at present. 

As Andrew Zatlin described on Thursday’s Live! we can expect a series of stimulus efforts next year, ahead of the midterms, driving new liquidity. The $2,000 “tariff rebate” checks President Trump has been touting are but one example.

When higher liquidity hits the market – in whatever form it takes – today’s bitcoin buyers will be waiting.

Make like the whales, and use market selloffs and stimulus to your advantage.

Whales Buy the Bitcoin Dip
Private Credit’s Creditanstalt Moment

November 17, 2025 • Andrew Packer

The market seems to know something about private credit that we don’t. And in a big enough liquidity event for private credit, investors will have to sell off more liquid assets if they want capital.

That’s the danger private credit poses today, exactly at a time when rules are being eased to make it easier for retail investors like us to buy into this asset class.

I’m in the camp that this smells like a way to keep the party going by providing another source of liquidity – the passive investment flows from your regular 401(k) contributions. The smell takes on a sour note as this sector starts to falter.

Perhaps today’s selloff is simply a reaction to declining interest rates, the growth of private credit, and a few inevitable deals that have gone sour recently.

Private Credit’s Creditanstalt Moment