The US at the moment spends 111% of its tax receipts on the true value of servicing its debt.
And the Fed is now chained to printing up the distinction — without end.
It is a no-win state of affairs.
Which is why highly-respected macro analyst Luke Gromen states that the US and different main world economies both higher “get busy inflating or get busy defaulting”.
For this reason he is assured that our central planners will print, and print and print from right here — because the carnage of defaults that might in any other case ripple via right now’s hyper-indebted economic system is simply too horrific for officers to abdomen.
However whereas that is the endgame he predicts, the trail we’ll take to get there may be a lot much less sure.
And he is anxious there are a variety of constructing pressures that would set off a painful correction within the near-term.
This is without doubt one of the most essential animated, deeply sobering & someway but enjoyable interviews we have had to this point.
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