23.6 percent of all USD in circulation created in 2020

Updated on January 17, 2021 in General Stuff
2 on January 17, 2021

Res ipsa loquitur, to borrow a true phrase back from malpractice law.

https://www.thestreet.com/mishtalk/economics/23-6-of-all-us-dollars-were-created-in-the-last-year

 

 

 

 

 
  • Liked by
Reply
0 on January 17, 2021

“They” keep telling me there is no inflation. Or at least what inflation there is is either negligible, or even desirable. 

Then I look at what Zillow says my house is worth, and I know better.

*****

Ever notice how over the last 30-ish years, the idea that the budget deficit is a problem has largely faded from the public discussion? It feels like we’ve taken whatever proportion of the national political conversation that used to be dedicated to fiscal matters and replaced it with cultural/moral rhetoric.

One theory I have for explaining that is that there’s nothing left to talk about. Our fiscal situation is hopeless. Anyone paying attention knows that. Everyone knows there’s no political appetite for doing anything about it. Therefore, in the sense of “If you don’t have a solution, you don’t have a problem”, there’s no point in worrying.

So what is a person to do? What can the average American do to ensure the best possible deck chair on this Titanic?

I should read up on that. I’m sure there are people smarter than me who have given it some thought.

Meanwhile, if you want an interesting (and depressing, but ultimately hopeful) read on one possible scenario, The Mandibles is pretty good.

 

  • Liked by
Reply
Cancel
0 on January 17, 2021

The seeds of ignoring the deficit go back to the great Congressional compromise in the mid-60s when the Administrative State was built to guarantee career longevity at a cost of never being tied personally to anything. The AS does everything under nominal Congressional oversight, and Congress pays for it, never turning down the opportunity to write obscene checks.

This place in history has been ordained for a long time. To me the only way to prepare is assets, useable assets. A roof, a furnace, tangible skills that can maintain the assets, a paid for vehicle, etc.

I don’t see any other way out.

  • Liked by
Reply
Cancel