I have to say that chart that I've used in the last few posts, the one that shows how the Fed is buying almost all of the new issue of Treasuries really has me spooked. That's the last phase of fiscal collapse - printing money to cover your debts. Those charts show that we're not even bothering to look for lenders right now, we're just printing hundreds of billions of dollars and handing them out. There's no step after that, just a long, long fall.
Maybe I'm overreacting.
Thank goodness for Rep. Ryan.
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