Coming to America

Coming to America

My high school history class spent a bit of time explaining how folks got to the Americas. Keep in mind that this was about 65 years ago. We learned about Columbus in 1492 and the slight possibility that Eric the Red’s son Leif Erikson might have made it via Greenland much earlier. We learned that the West Coast was discovered by immigrants from Asia traveling across the ice bridge from Russia to Alaska and then migrating Southward.

Over time, history changed. “Leif Erikson, a Norse explorer born around 970 CE, sailed from Greenland to North America after being blown off course on a voyage from Norway around 1000 CE, according to the Icelandic sagas. He landed in a region he called Vinland, noted for its forests, grapes, and mild climate, and established a small settlement known as Leifsbudir. This area is generally associated with the northern tip of Newfoundland, Canada, where the archaeological site L’Anse aux Meadows was later discovered and dated to approximately 1021 CE.
The sagas describe that Leif’s voyage was inspired by earlier reports from Bjarni Herjólfsson, who had sighted lands west of Greenland around 986 CE but did not land. Leif’s expedition included a crew of about 35 men, and after wintering in Vinland, he returned to Greenland with timber and grapes, earning the nickname “Leif the Lucky”. While Leif himself did not return to Vinland, subsequent Norse explorers, including his siblings and other Icelanders, continued to explore. Leif Erikson’s discovery of North America is dated to around 1000 CE, making him the first known European to set foot on the continent, centuries before Columbus’s voyage in 1492. While the sagas had been considered historically unreliable, we now believe at least some of them to have been accurate.

What will we discover that changes history in the future? “Archaeological evidence shows that indigenous peoples had inhabited parts of North America for thousands of years. For example, human habitation in Newfoundland dates back at least 9,000 years, with earlier Maritime Archaic cultures appearing about 5,000 years ago.” Currently, it is assumed that this evidence is a result of Asian migration, where people migrated from West to East.  Is it possible that during the Ice Age people from Europe were able to travel by land or along the coastline to reach the Americas? It’s possible, but there is no evidence so far.

On the other coast the assumption from my history class days was that the migration probably was initiated 12 to 15,000 years ago based on the oldest archaeological sites that had been discovered at that time. More recent research, however, suggests a human presence dating to between 18,000 and 26,000 years ago, during the Last Glacial Maximum. Not the least of which is Monte Verde,Paleolithic archaeological site in the Llanquihue Province in southern Chile, located near Puerto Montt, Los Lagos Region. The site is primarily known for Monte Verde II, generally suggested to date to 14,500 years ago, which has been largely accepted (though not without dissent) as showing that the human settlement of the Americas predates the Clovis culture by at least 1,000 years, contrary to the now discredited “Clovis first” paradigm. The site also contains an older, much more controversial layer (Monte Verde I) suggested to date to 18,500 cal BP (16,500 BC), which lacks the general acceptance of Monte Verde.

Some of the oldest sites in North America https://letstalkgeography.com/web-stories/7-of-the-oldest-archaeological-sites-in-north-america/

Amazing Norway

Amazing Norway Pop 5.66 million 

For a country of under 6 million people, Norway has accomplished an amazing economic feat. They have a debt-to-GDP ratio that is under 35%.  Their total debt is only $145 billion. In addition, they have accumulated over $2 trillion in their Wealth fund, which is about 13 times the amount of their debt.

The wealth fund, which manages the Norwegian state’s revenues from oil and gas production, has invested about half of its value, or about $1 trillion, in the U.S., across bonds, equities and real estate. They tend to invest only in companies that are environmentally friendly. As a result, Fund CEO Nicolai Tangen told Reuters he had discussed the risk of a possible backlash from the U.S. to the plan with the board of the central bank, among other issues. For more details, see

https://www.reuters.com/sustainability/cop/norways-wealth-fund-intensifies-net-zero-emission-pressure-amid-us-climate-2025-10-22

US Bankruptcy

Is the USA on the way to Bankruptcy?

In the 1960’s two respected economists took opposing stances regarding the annual budget and the National debt.  Milton Friedman, the conservative view, was that the Government should work on an annual balanced budget and make every effort to reduce the National Debt. John Maynard Keynes, the liberal view, was that annual deficits were ok in years that required economic stimulus, and in years when the economy was overstimulated, a surplus should be achieved. He warned that if the ratio of Debt to GDP ever exceeded 75%, the country’s financial viability would be in danger. At the time, the ratio was under 40%, so danger was not in the cards.

Both economists would be horrified if they were still living. The 75% warning level was reached about 16 years ago; the National debt has almost doubled and is projected to reach $40 trillion by the end of 2026.

Here’s a summary of the U.S. national debt at the end of each fiscal year from 2008 to 2026, based on Treasury data and historical records

                                                      Debt                GDP in Trillions      Ratio     

Year                                                                                                                                                           2026 (though June)$39,311,022,730,162$31,866123.37%
2025$37,637,553,494,936$30,486123.46%
2024$33,510,833,601,230$27,063123.83%
2023$32,320,860,659,268$26,530121.83%
2022$30,928,911,613,307$25,663120.52%
2021$28,428,918,570,049$23,173122.68%
2020$26,945,391,194,615$21,158127.36%   Part COVID related
2019$22,719,401,753,434$21,526105.55%
2018$21,516,058,183,180$20,659104.15%
2017$20,244,900,016,054$19,495103.85%
2016$19,573,444,713,937$18,651104.95%
2015$18,150,617,666,484$18,035100.65%
2014$17,824,071,380,734$17,535101.65%
2013$16,738,183,526,697$16,85899.30%
2012$16,066,241,407,386$15,776101.85%
2011$14,790,340,328,557$15,19997.32%
2010$13,561,623,030,892$14,73092.07%
2009$11,909,829,003,512$14,30283.28%
2008$10,024,724,896,912$14,42969.48%

Out of control; see the following link:

U.S. National Debt by Year (1940–2025) — Historical Data & Download | US-Debt-Clock.com

To keep up with the details, I recommend checking in with this link periodically: https://www.usdebtclock.org/

In the details, one interesting component of the budget that has about doubled in the last 10 years is interest. It is the 3rd largest budget item (after Social Security and Medicare/Medicaid) at almost $1.04 trillion.