The Bear Traps Report/Larry MacDonald/9-11-2022
“There is nearly $200T more debt on earth today relative to the days of Paul Volcker – so why does much of Wall St. constantly compare Fed Chair Jay Powell to central bankers from an entirely less levered era? The Fed and their collection of well-placed pawns keep lecturing us on their policy path filled with endless rate hikes to fight inflation – but the math tells us the sales pitch is all bs.”
USAGOLD note: A practical accountant-like view of government finance that lays out the Fed’s limitations as to how far it can go with rates and quantitative tightening. “No one,” says MacDonald, “is doing the math.”
