Intact.
– QE goes on.
– Low rates through 2023.
– Twin deficits at record levels.Just a big picture reminder:
National debt has grown over 3.5x nominal GDP since the break of the gold standard.
Only one way out folks…
Monetary debasement. pic.twitter.com/CXf3Z587Mn
— Otavio (Tavi) Costa (@TaviCosta) September 16, 2020
You thought government deficit was the only issue we have?
The trade balance also just reached near all-time lows.
The current account will likely be dragged down along with it.
Twin deficits are set to explode to over 25% of GDP.
Highest level ever reported. pic.twitter.com/JN7hMpClzI
— Otavio (Tavi) Costa (@TaviCosta) September 16, 2020
'99: US was $5T in debt, int rates 5.5%, GDP growing 3-4%
'20: will be $30T in debt in '21 (+6x!), 0% rates, $1-2T/yr deficits just for 2% GDP 'growth', $25T global QE, China debt $45T up from $2T in'99. Repeatable inputs?@jimcramer @davidfaber @carlquintanilla @steveliesman pic.twitter.com/HYZISYl9L8
— M/1_LP (@MI_Investments) September 17, 2020
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