The U.S. has a gigantic debt problem, but it won’t be the beneficiaries of that debt who will pay the price of unwinding the problem. From Bill Bonner at bonneresearchpartners.com:
(Source: Getty Images)
Bill Bonner, reckoning today from Poitou, France…
Who’s sorry now?
Who’s sorry now?
Whose heart is aching for breaking each vow?
Who’s sad and blue?Who’s crying too?
~ Snyder, Kalmar, Ruby
News flash: Inflation ain’t licked yet. Breitbart:
Bidenflation Keeps Going: Inflation Edged Higher in July
The personal consumption price expenditures (PCE) price index rose 3.3 percent in July compared with 12 months earlier, the Bureau of Economic Analysis said Thursday. This was the first acceleration in PCE inflation since April and follows the three percent reading in June.
And the Daily Mail:
Inflation gauge preferred by the Fed rises to 4.2% as housing and healthcare costs increase
The key question for us all is: what next? Will inflation pick up? Will it decline?
There is $95 trillion in outstanding debt in the US, of which about $50 trillion is ‘excess’ – debt that probably can’t survive a complete interest rate cycle. One way or another, much of that $50 trillion will die – either from inflation or deflation.
In anticipation, today, we look ahead…that is, we put on a dark suit and gather at the gravesite. We want to see who’s there…and who’s heart is breaking.
