A few good points, but there’s no bigger fool than one that figures he’s read all the signs and now is equipped to predict the future.
The author has given us a framework that may not jibe with our own personally framework.
I think he’s done a good job by simply recognizing we’re a massively debtor nation that relies enormously on imports the debt finances. Now that other nations have slowed or stopped buying our treasury bills, the Fed is picking up the slack by directly buying them. To do that the Fed has to print money. That’s a point that’s irrefutable.
The government is walking a tightrope, The hope is that the consumer engine that’s upwards of 70% of the economy will pickup were it left off. I don’t think that can or will happen. That leaves a very ugly scenario which is what the original article ia about.
And the distinction someone once made between Russian and American attitudes about success:
American: "My neighbor bought a handsome new horse. I want a horse just like his."
Russian: "My neighbor bought a handsome new horse. I hope his horse dies."