- With Treasuries blowing right through the 100% of GDP milepost - and likely poised to reach 125% within the next year or two - there's no time like the present to recognize our nation is in serious fiscal trouble.
- The pandemic is not close to my greatest worry. These days I have greater fear for the runaway credit bubble. I worry about the mania that has enveloped the stock market. I fear consequences of a historic debt crisis in already contentious social and geopolitical backdrops.
- The most important thing for our nation is to see a return to some semblance of fiscal and monetary sanity. I'm all for sound long-term investment, something our nation desperately needs.
- I'm not sure what we have to show for the $17 TN of Treasury debt accumulated since the last crisis. And it's inexcusable that we came into the pandemic in such a fragile position - fiscally and in terms of the financial bubble.
For further details see:
Weekly Commentary: Short-Term Unsustainable