When debt grows so much that people don’t believe the Treasury will pay it, they sell their bonds and buy other things, sending prices through the roof.
In perhaps the most predictable column of the year, the Wall Street Journal this week featured a column by Walter Russell Mead declaring it's "Time to Increase Defense Spending."
Despite conclusive evidence young children have virtually no risk of severe complications or death from COVID-19, Pfizer, at the urging of federal health officials, is hustling to get infants and toddlers injected with experimental COVID vaccines.
Epidemiologist compiles massive trove of research studies demonstrating "that Covid-19 lockdowns, shelter-in-place policies, masks, school closures, and mask mandates have failed in their purpose of curbing transmission or reducing deaths."
Central banks have not merely inflated the bejesus out of assets prices. They have also caused the very foundations of financial markets to metastasize, yielding an endless array of new products that have no real economic function except to facilitate new forms of pure wagering.
A new budget projection shows the Democratic climate and social spending bill would add to the deficit, a finding that could further imperil support from centrist Democrats like Sen. Joe Manchin.
