There is seemingly no limit to the greed or stupidity of politicians, central bankers, and many on Wall Street and corporate America. As this economic, financial, health, and social crisis continues to unfold, there is nothing but further calls to do more, more, more. Let us not pay attention to the minor detail that the federal government is broke – as is evidenced by a national deficit that is likely to be larger than $4T for FY2020. Let us not pay attention to the minor detail that for decades States’ governments have squandered their citizens’ hard earned tax dollars on vanity projects, fraud, abuse, and waste, and are now on bended-knee seeking more bailouts from a federal government that is also broke. A key distinction between the two, however, is that the latter has a printing press via the Federal Reserve and the former does not. Nevertheless, there is no free lunch and if we are going to be resorting to the printing press to cure all that ails us, then we are turning into a banana republic. The costs of conducting such flawed and fraudulent policies will come in the form of inflation and hyperinflation. Understand this is a process, but it will show itself in due time and the picture will not be a pretty one. These federal policies are all but guaranteeing that what would likely be a severe recession is now going to become a depression.
In other news on today’s podcast we discuss the Fed’s FOMC meeting that will be concluding tomorrow. We also mention the upcoming Q1 2020 GDP figures. And we close the podcast by highlighting some trade figures and recent surveys as to how the current economic situation is affecting everyday Americans. Stay diversified, stay vigilant, and stay with The Kapital News. #Economy #Bailouts #Recession #Debt #USA #Gold #Inflation #Congress #Depression #Oil #EndTheFed