The Federal Reserves $34.5 trillion problem.

Following the IMF warning on spending, the linked article is an eye opener on the ponzi scheme operation of the federal government/federal reserve collective. Of special interest is the "debt monetization" operation..

https://www.fxstreet.com/amp/analysi...m-202404261906

A big fat sack of polemics on the scale, seems to me. 'Welfare state' rhetoric when welfare is 18% of the Fed budget. The US taxes way under what most developed economies tax. Increase the tax just half the way from where we are to the average, and we'd wipe out the deficit, and could pay off the debt.

The actual problem is the top wealth hoarders would rather loan money to the government and get interest on it forever, rather than pay taxes.

I do not read here "Welfare state rhetoric". What I see is criticism of spending in general and the interplay between the Federal reserve and the Federal government.

The Federal reserve is facilitating the Federal government profligate behavior and avoidance of tax implementation by creating fake demand for treasure bonds.

"Because higher taxes are politically untenable, the government would be forced to constrain its spending, putting a natural check on both the warfare and the welfare state."

Why are higher taxes politically untenable? Because libertarian wealth-holders don't like them.

All 3 major stock indexes close at record highs as inflation slows down
https://thehill.com/business/4666442...-record-highs/

Naturally, Donny is now claiming credit for Biden’s superb economy… and the rubes believe him. Sigh.

J B will have two scheduled debate sessions with MagaLardo Mussolini under controlled cdx, minus the peanut gallery.
What makes me think this will be the classic "chess with a pidgeon" scenario.

Dow Jones tops 40,000 for the first time.

The l'orange presidential turnip promised that Biden and the Democratic Party would tank the economy into a major depression, what happened?

ps Thanks Joe, my 401k loves you.