The Pols have the Fed by the shorthairs with this huge national debt. The Fed knows it will trigger a death spiral by trying to raise rates. Hence they won’t. This was a deliberate strategy employed by Clinton when he shifted the national debt out of long-term and into short-term instruments in the 90’s. Everyone else in the world who gets by selling us crap knows that if we go down, they all go down harder. So they are going to wink and nod, and urge the Fed to keep on printing.
Everyone has skin in the game and too much to lose. I think they can all keep this game of three card monte going for a LOOOOOOOOONG time.
They had better for all our sake. Especially theirs...
I am no fan of central banking, think it is inherently corrupt and has corrupted our society. However the downside of failure is to devastating to comptemplate.
“I think they can all keep this game of three card monte going for a LOOOOOOOOONG time.”