There is a day of reckoningPeeling The Economic Onion Will Bring On The Tears | ZeroHedge My Comment: The debt buildup is not sustainable and I don't think there's anything the Fed can do that would not make it worse. If they taper, the economy weakens further...if they add stimulus, inflation increases. And more goernment spending (ie social infrastructure) will only add to the national debt and increase inflation. The actual amount of the national debt will not be known until after Dec 15 when all of the borrowed money from trst funds has to be repaid. I expect it to be well over $30T. Got Gold ?
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The illusion of a robust economy has been propelled forward by the sheer "quantity" of financial growth and deficit spending rather than anything resembling quality. Poorly crafted and shockingly large spending bills have created a situation encouraging government agencies to spend like drunken sailors. It seems that again Federal agencies as well as state and local governments are flush with cash as the result of another stimulus package. Throw in the soaring national debt, the soaring trade deficit, soaring inequality, underfunded pensions, and a few other ugly issues, and tears should be streaming down the faces of all who want to leave the world better off for future generations. The distorted nature of our current market becomes apparent when you look closer at the society we are becoming as people walk along with their eyes glued to their cell phones.