Thank you for saying it just that plainly, because it needs to be stated over and over so that all stakeholders realize what needs to be done to solve the problem and how Congress has – until now, at least – been shirking its duty in a big way. We will never get the government we want and deserve until people stop pussyfooting around this issue.
I don't see an end in sight for the deficit disaster--it is a bipartisan effort--Republicans what deficit-financed tax cuts and Democrats want deficit-financed spending. Trump seems to be doing both.
On the other hand, at this stage I think the Fed will continue to refuse to monetize the debt. Trump has asked them to reduce financing costs and some of Warsh's past comments suggest he wants a very accommodative Fed. However, the rest of the committee seems ready to do the dirty work of bringing inflation back to target. The real risk of fiscal dominance is if more loyalist are appointed replacing the current strongly independent majority.
Unfortunately, there is no longer a party of fiscal integrity. Republicans run against deficits and then increase them through spending and tax cuts. Democrats avoid the topic and see every problem as a need for more spending. When the bubble bursts, everyone will be shocked.
Answer/Option? Adopt the PBOC/CCP strategies. Print billions (quintillions in China's case) of USD on behalf of the Treasury and devise numerous schemes to hide the debt/credit entries, siphoning off wealth from the global monetary system right under the world's nose. Of course, we'll have to publish bogus economic data (like China) explaining all the increased spending. We could claim "trade surpluses" like China. Or economic efficiencies from AI? Or...the US could make massive loans to all our allies and demand kickbacks like is done in China. Being financially creative with deception is key.
Thank you for saying it just that plainly, because it needs to be stated over and over so that all stakeholders realize what needs to be done to solve the problem and how Congress has – until now, at least – been shirking its duty in a big way. We will never get the government we want and deserve until people stop pussyfooting around this issue.
I don't see an end in sight for the deficit disaster--it is a bipartisan effort--Republicans what deficit-financed tax cuts and Democrats want deficit-financed spending. Trump seems to be doing both.
On the other hand, at this stage I think the Fed will continue to refuse to monetize the debt. Trump has asked them to reduce financing costs and some of Warsh's past comments suggest he wants a very accommodative Fed. However, the rest of the committee seems ready to do the dirty work of bringing inflation back to target. The real risk of fiscal dominance is if more loyalist are appointed replacing the current strongly independent majority.
Amen, sir.
Unfortunately, there is no longer a party of fiscal integrity. Republicans run against deficits and then increase them through spending and tax cuts. Democrats avoid the topic and see every problem as a need for more spending. When the bubble bursts, everyone will be shocked.
Answer/Option? Adopt the PBOC/CCP strategies. Print billions (quintillions in China's case) of USD on behalf of the Treasury and devise numerous schemes to hide the debt/credit entries, siphoning off wealth from the global monetary system right under the world's nose. Of course, we'll have to publish bogus economic data (like China) explaining all the increased spending. We could claim "trade surpluses" like China. Or economic efficiencies from AI? Or...the US could make massive loans to all our allies and demand kickbacks like is done in China. Being financially creative with deception is key.