Once in a while someone in government knows what he or she is talking about. From Tyler Durden at zerohedge.com:
We’ve been pointing it out for so long – in fact, for most of our 15 years in existence – that it has become more of a chore than actual reporting, especially since the “number only go up“, as it hits a new all time high virtually every day. We are talking, of course, about the exponential curve that is the US debt, arguably one of the most boring and at the same time, most exciting topics of all time (because one day the “number go up no more” and you want to be far, far away when that happens).
Perhaps the catchiest observation we made on the trajectory of US debt was last September when we first noted that it is rising by $1 trillion every three months, or every 100 or so days…
… a soundbite which has since been picked up and stolen by pretty much everyone else in the media, if with the usual 6+ month lag behind us.
Not only has it gotten boring to be ahead of the curve by almost half a year, but pretty much every possible warning that could be said about the exponential increase in the US debt has been – well – said.
And yet, every now and then we are surprised by the latest developments surrounding the unsustainable, exponential trajectory of US debt. Like, for example, the establishment admitting that it is on an unsustainable, exponential trajectory.
That’s precisely what happened overnight when in an interview with the oh so very serious Financial Times (which has done everything in its power to keep its readers out of the best performing asset class of all time, bitcoin), the director of the Congressional Budget Office, Phillip Swagel, issued a stark warning that the United States could suffer a similar market crisis as seen in the United Kingdom 18 months ago, during former Prime Minister Liz Truss’s brief stint leading Britain – which briefly sent yields soaring, sparked a run on the pound, led to an immediate restart of QE by the Bank of England and a bailout of various pension funds, not to mention the almost instant resignation of Truss – citing the nation’s “unprecedented” fiscal trajectory.
One half of Cloward-Piven is around to see the completion of burning it all down by any means neccesary.
Most norms and normettes will lose their minds in Weimar Wheelbarrow/Zimbabwe Wallpaper zero charge on my mommygov loves me EBT card times.
Dollar Circus Tree has increased prices with no stickers on shelf to let you know and there are people who get everything there with some $50 and up orders.
Radio was on about cocoa prices going up and the Sack-N-Save had some dark chocolate snack packs on the closeout end of aisle for $2 so I scooped up several.
You can figure out the swans that are soon to be coming home to roost by checking out financial pages and Ludwig von Mises is the EPIC GREATNESS.