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1 Sep 2017 13:08:01 UTC
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Still Report #479 - New Star Wars Movie and the Budget
Good morning. I’m still reporting on the movie economy.
Star Wars: The Force Awakens opened in North America last night at 7pm in the east. By this morning at 4 am, initial box office receipts have crushed previous records - $60 million by morning.

The previous champ was Harry Potter, Part 2, the final film in the franchise, which earned $43.5 million in Thursday previews in July 2011. The Dark Knight Rises took in $30.6 million in 2012.
Reviews are very good. Rotten Tomatoes users have given it a 95% fresh rating and Rentrack fans gave it an unheard of 94% rating.
Force Awakens is the most expensive film of all time – costing Disney studios upwards of $200 million to make.
However, experts now believe that it will become a profitable venture for Disney by the end of its first weekend.
Estimates are that “Force Awakens” may become the top grossing film of all time, exceeding Avatar 2009 total of $2.8 billion and Titanic’s 1997 total of $2.2 billion.
By New Years day, “Force Awakens” has a good shot at exceeding 2014s disappointing 10.3 billion dollar gross for the entire movie industry -- pushing that up to around $10.5 billion dollars for 2015.
Now, let’s put this number in perspective to make it useful. In the big picture, the movie industry’s 10 billion per year take is small potatoes compared with the staggering $1.1 trillion budget deal which Congress will vote on later today.
The new deal, complete with full funding for President Obama’s suicidal foreign refugee resettlement program will add over $500 billion to the deficit – all financed by selling additional interest bearing bonds.
Just the new interest on this new addition to the national debt will cost taxpayers around an additional $15 billion dollars per year – 50% more than the entire movie industry will take in all year.



The truth is that NONE of this money needs to be borrowed. The government can simply create it without borrowing without any debt.
But, you say, “that’s printing and printing would cause runaway inflation”!
Well, yes, it would! But the inflation is felt faster by the voters than the nearly invisible, but far more damaging effects of the borrowing.
Taxpayers would get angry at politicians quicker if inflation set in, and elect new politicians.
That’s the secret that both politicians and bankers don’t want you to know - about the U.S. economy.
Politicians will talk all day about cutting spending, but it never happens. What their main donors – the bankers -- would much prefer is that you keep thinking borrowing is an acceptable alternative as they blame each other time and time again for the over spending.
That helps both the politicians and the bankers stay rich. But it is a totally bad solution for you.
I’m still reporting from Washington. Good day.
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BETH,