They are over-extended, as are the Federal & (blue) State obligations.
A brief 4-week shutdown equivalent to France's annual summer vacation should not trigger a rush to pass $6-Trillion in bailouts. Were our country's public and private sector finances sustainably organized...
This situation remains ridiculous, and is clear evidence of decades-long government failure. When I see Mnuchin on TV I wonder how he keeps a straight face as he and Powell move to spike the Federal debt and money supply as a policy "solution." When business pundits offer repeated remarks like "Thank goodness policymakers are taking decisive steps," I LOL and think - "towards what!?" Hyperinflation and financial collapse.
A seasonal respiratory infection was used to further hollow out the US financial system.
Everything Austrian School economists have written has proven correct.
Thomas Jefferson was right too. "I sincerely believe... that banking establishments are more dangerous than standing armies."
wow. yeah what a mess. Everything is propped up by nothing.
I love a Jefferson quote. Thanks for posting it.