Centuries of economic wisdom fly out the window. Not just on some peripheral matter. The whole shootin’ match. The Interloper-in-Chief Waves his wand.
All this fake money being created out of thin air is going to be used EXCLUSIVELY on propping up the dead currency. The more the FED intervenes, the more inflationary the money emission, the less confidence in dollar, the more intervention will be needed. In short, the Ponzi scheme has outlived its usefulness and become a deadly addiction that will ultimately kill the addict. Of course our masters know it. Everyone knows it, but everyone is trying to suck out one last drop of blood out of the economy’s carcass before it goes into a full rigor mortis. And because everybody is kicking the can down the road, this country has no meaningful plan or program of reform — just an endless, wall-to-wall FOMC statements and declarations, Elon Musk tweets and Janet Yellen’s urbi-et-orbis. Our economy has become a sole domain of bullshit artistry.
Precisely because there are no plans to carry out any meaningful reforms, more and more of the nation’s budget is being wasted on ever-growing number of less and less productive government market interventions. The point of diminishing returns has been reached decades ago, we are now at a point of paddling frantically in order to avoid the waterfall. This is why Joe Biden’s $3 trillion “infrastructure” (read: money market intervention) program has ballooned to a $6 billion figure budget in less than 3 weeks since his “infrastructure” program has been announced (since when is Wall Street an “infrastructure”?) . Essentially, the more worthless money the FED pumps, the more it will be forced to pump at at ever-increasing pace. I predict that before the end of July, the Biden administration will announce yet another fake “American Infrastructure rescue program” which will – you guessed it – require more fake money. This time, probably about $20 trillion.
Meanwhile, back at the grocery, your 12-pack of eggs will probably end up costing $75 or so.
Note the prediction of another “American Infrastructure rescue program.” Within 60 days? A totally reasonable prediction.
 Comment by Deda Cvetko on “Biden Unveils $6 Trillion Budget That Will Raise Federal Spending To Highest Post-WW2 Level.” By Tyler Durden, ZeroHedge, 5/27/21.