We are on a Highway To Hell! Massive Federal Budget deficits and staggering payments to Treasury from The Fed (losses on balance sheet) and $212 TRILLION in unfunded promises to the non-elites.
Under Modern Monetary Theory (or print money without consequences), we are seeing trillion dollars budget deficits with no end in sight. Nothing has been the same since the financial crisis of 2008 with The Fed’s massive intervention.
Then we have The Fed paying an ever growing amount to US Treasury for losses on their huge balance sheet.
And debt is growing to 200% of GDP!
I would love to get US Treasury Secretary Janet Yellen in testimony and ask her “How are we ever going to afford $212 TRILLION in unfunded promises? Her response will likely be “We will just keep running larger and larger deficits.” Sigh.
Meanwhile, Fed Chair Powell is hunting that wascally inflation.
