The Fed Is Paying Uncle Sam’s Bills … Who Cares?
One side of the great economic debate says government “stimulus” spending is critical to make up for lost gross domestic product (GDP) in a big downturn.
The other says it’s pointless, since government spending is paid for in taxes withdrawn from that same GDP.
Both sides agree government debt must be repaid eventually.
But, as I explain in today’s video, there’s a third radically different view that’s hiding right under our noses…
How Did We Get Here?
We are experiencing a radical departure from economic policy as we know it … and it’s already secretly implemented.
This week, I tell you how we got to this point and the shocking future ahead if we choose to accept reality.
In today’s video you’ll see:
- Why the U.S. government never pays back its debt, in one handy illustration. (11:28-12:35)
- The classic chart of the Great Depression that’s relevant today. (3:52-5:42)
- What is holding our economic system hostage. (12:35-14:21)
Editor, The Bauman Letter
An economist by training, I grew up in the U.S. but emigrated to South Africa in the mid-1980s where I became deeply involved in the development and implementation of post-apartheid economic and urbanization policy. During the 90s and 2000s, I was a consultant to a variety of entities, including African and European governments and the United Nations.