U.S. politicians ignore ballooning debt and its catastrophic consequences

Rogue Economics/Bill Bonner’s Diary

“Rather than man-up… and cut back on spending, both parties are committed to covering these unpayable debts by printing money – a policy that always leads to bankruptcy, poverty, depression, and inflation, as well as social and political chaos. But mum’s the word. Shhh… Cover your eyes. Plug your ears. And seal your lips. The candidates, the Federal Reserve, the press – all keep silent because they know the voters don’t want to hear about it. And their own fortunes, reputations, and careers depend on keeping the jig up.”

USAGOLD note: In fact, the current Fed chairman has become a vocal cheerleader for Washington’s borrow and spend agenda (please see above) – the ideological opposite, as it turns out, of Paul Volcker who took the reins of the Fed as the arch-enemy fiscal stimulus and inflation. The investment milieu has changed radically and with it, all the preconceived, ingrained notions as to how one should manage his or her investment portfolio are out the window.

Repost from 10-12-2020

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