Category Archives: Government Debt

Living On Borrowed Time

Practicality the entirety of Congress now believes that the ability to pay should not limit the ability to promise people whatever they want. There’s no poll of members of Congress to support this assertion. We base it on what they’ve communicated by real, material actions. Continue reading

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Japan’s Yield Curve Control Regime is Coming to America

The central planners at the Fed and the U.S. Treasury, like the central planners at the BOJ, want a yield curve that looks just right. Namely, they want a yield curve that uniformly steps up like topographic elevation curves step up from California’s Death Valley along the face of the Eastern Sierra to the Mount Whitney summit. Continue reading

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Final Collapse is Inexorable

This week central planners pursued their primary mission with steadfast conviction. They planned. They prodded. They prearranged tomorrow to save us from ourselves. Some also grubbed a little graft for their trouble. Continue reading

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Realizing the Full Implications of the Forthcoming Catastrophe

The popular delusion of the 21st century is to assume the highest virtues of democracy.  This faulty assumption  propagates a dangerous archetype: the tyranny of the masses and its twin consequences, deficits and inflation. Continue reading

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