The Fed Just Got the Perfect Cover for the Collapse of the US Economy
"The public doesn’t realize it yet, but many of the businesses that shut down over the past couple months are not coming back."
"The public doesn’t realize it yet, but many of the businesses that shut down over the past couple months are not coming back."
Lost amidst all the talk of Covid-19, economic shutdowns, and stimulus is one simple but incredibly important question… Just who is going to pay for all of this?!?!
"Yes, another $4-6 Trillion in QE will likely be successful in inflating a third “bubble” to counteract the last deflation."
"And it only took a little more than one year to do it."
"Establishing a just and equitable distribution of mutually raised funds to bail out private sectors across borders will be politically almost impossible."
"Should the United States lose its status as the global hegemon, bipartisan fiscal profligacy must surely take a major part of the blame."
"...it is not the task of a central bank to deal with insolvencies."
"...fiscal profligacy has been marked by extraordinary levels of bipartisan collegiality."
"The French lockdown ... is an economic bombshell. French debt, before Covid-19, was running at over 100% GDP..."
"...almost 60% of Americans are so financially strapped that they don’t have even $500 in savings and nothing whatsoever put away for retirement, and yet they are being forced to pay for government programs that do little to enhance or advance their lives."
"The budget projects a $4.6 trillion reduction in the nation’s $23 trillion national debt but rolls back the timetable for eliminating the deficit from eight years to fifteen."