The US Is Living On Borrowed Time

February 01, 2024

In particular, some recent facts below are emerging which further support my otherwise sad conviction that the American economy (not to be confused with its Fed-supported stock exchanges) is literally living on borrowed time. Fast forward to January 2024, and that same CBO has just announced a $509B Federal budget deficit for Q1 2024. Folks, that adds up to annual deficit run rate of $2.2T. Keep It Simple: Powell Will PivotDebtors, including Uncle Sam, need inflation and need a debased currency. And this means Powell will once again crank out the money printers at the Eccles Building to “buy” those IOUs.