Wall Street mogul Ray Dalio is quite frank, but uses technical terms to describe the debt crisis that is imminent; and Bannon reacts:
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4 thoughts on “Sovereign Debt Crisis: It Is Nearly Here”
What a convoluted way Dalio expressed. The Fed will print as long as they can get away with it. Default via debauching the $ will go on for a while before more honest explicit default.
BTW, the professional liars styled “journalists” will say, “Oh, the US has never defaulted.” Yes they have. The “best” presidents, Lincoln and FDR both did it. And after the War of 1812 they shielded the insolvent banks who lent the Federal govt. money from bankruptcy.
I was unaware of those bits of history, Healey. At a certain point, out-of-control inflation will be the indicator of the default that nobody wants to admit. But at that point, it would probably be too late; and the consequences would be unpredictable, albeit severe.
Let’s hope Trump and DOGE fully takes care of this, because Congress obviously will not until it is too late. I heard a snippet from AOC suggesting that the Continuing Resolution– i.e., the spending bill– would allow Trump to claw back spending in the various agencies as he sees fit. I hope so.
What a convoluted way Dalio expressed. The Fed will print as long as they can get away with it. Default via debauching the $ will go on for a while before more honest explicit default.
BTW, the professional liars styled “journalists” will say, “Oh, the US has never defaulted.” Yes they have. The “best” presidents, Lincoln and FDR both did it. And after the War of 1812 they shielded the insolvent banks who lent the Federal govt. money from bankruptcy.
I was unaware of those bits of history, Healey. At a certain point, out-of-control inflation will be the indicator of the default that nobody wants to admit. But at that point, it would probably be too late; and the consequences would be unpredictable, albeit severe.
Trouble is around the corner. The strong hand and courageous leadership will prevent doom.
Let’s hope Trump and DOGE fully takes care of this, because Congress obviously will not until it is too late. I heard a snippet from AOC suggesting that the Continuing Resolution– i.e., the spending bill– would allow Trump to claw back spending in the various agencies as he sees fit. I hope so.