"They are the market, there's no market left."
Many expected it to come apart before this happened.
Sorry for the exaggeration.
$85B/mo is $1020B/yr aka $1T/yr. That’s about half the deficit.
Last year the Fed purchased 75% of the Treasuries printed by Timmy Geitner.
75%!
So, we print money and buy Treasuries.
We’re buying from ourselves. There’s no way this can work.
No way.
-Rex
Buying its own T bill with paper money it prints with no revenue behind it. Paying a credit card with another one
We are in the last stages of an over leveraged ponzi economy driven by a severely abused fiat currency system. When the dollar ceases to become the world reserve currency (thanks to Ben and the political sock puppets refusing to take their medicine) it is game over. Total monetization of debt by a country is them going all in in Texas hold em with a pair of 2s. Total desperation.
In other words we are just printing money. Too bad we cant all just buy our own debt.