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The national debt, more correctly known as Treasury Gross Public Debt, shot up US$141 billion last week! Yikes! Don't multiply $141 billion by 52 weeks because you will plotz at the answer, and we are so freaking doomed that I cannot chug raw tequila fast enough to dull the rising feeling of doom or the rising taste of vomit tinged with blood.

Sure enough, the monetary base exploded to 911.350 from 843.825 in one week! Gaaahhh!

And as bad as this was, nothing could have prepared me for the news that Total Fed Credit jumped by an unbelievable $203.6 billion last week! In one week! $203 billion! In one lousy week!

This unbelievable, unprecedented, staggering $203.6 billion increase in credit is in the Federal Reserve account that, in the old days, used to run $10 billion a month, which was considered excessive, all the way during the huge 11-year inflationary run of money and credit that began in earnest in 1997, which produced all of the bubbles that are now bursting and causing this economic mess.

Now, instead of a white-hot $10 billion a month, now it's 20 times as much, $203 billion! And in one week! Gaaahhh! We're freaking doomed!

pup55 wrote:This still boils down to the problem that the political and economic system in this nation, as it is now constituted, will not tolerate sacrifice, discipline, or deferred consumption.

DomusAlbion wrote:

pup55 wrote:This still boils down to the problem that the political and economic system in this nation, as it is now constituted, will not tolerate sacrifice, discipline, or deferred consumption.

This is the heart of the matter and I would posit that we, the people, have brought this monster into existence. The people no longer want to sacrifice for the future, they no longer can tolerate risk or failure. We all gamble hoping for the "big win" but we don't want to lose or pay the debt.

There will be blood, suffering and death.