FTA-——Despite her gold-plated résumé, Ivy League degrees, and time served as Fed chair, Biden paid the price politically as the American people paid the price economically for her bungling.
Americans aren’t done paying the price for Yellen’s mismanagement as most of the financial media overlooks the fiscal time bomb she devised — one that could blow up once Trump takes office.
Specifically, my sources who follow the bond market say Yellen has been setting a trap for the incoming Trump administration through the way she financed the massive $1.8 trillion federal budget deficit that exploded during the Biden years with the accumulation of $36 trillion in debt.
Trump needs to get all the numbers put together and call for a special TV address to announce some very grave news: “the Federal government is super broke” and cannot even pay for the Supreme Court to keep the lights on without begging China or others for money” and then to announce proposed legislation to fix it. He did this COVID in March 2020. He needs to do it again in February 2025.
It will result in short term pain like the 1921 recession. But we will survive and thrive.