Tag Archives: american rescue plan act
The Great Donkification
The U.S. national debt has now eclipsed $28 trillion. The budget deficit for the 2021 fiscal year will likely run up to nearly $3 trillion – possibly more. Hence, it will be financed with printing press money…that is credit created from thin air by the Federal Reserve and loaned to the Treasury. Continue reading
Posted in Government Debt, MN Gordon
Tagged american rescue plan act, jerome powell, monetizing debt, pinocchio, pleasure island, treasuries
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