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Feb 11, 2024
Fed's Powell Admits Bidenomics Is Not Remotely Sustainable Or Fixable! Too Much Debt And Spending, Too Little Growth (GDP Growth Higher Than Debt Growth In Only 1 Quarter Under 'Brainless Joe')
Fed's Powell Admits Bidenomics Is Not Remotely Sustainable Or Fixable! Too Much Debt And Spending, Too Little Growth (GDP Growth Higher Than Debt Growth In Only 1 Quarter Under 'Brainless Joe')
As Commander Cody sang, "We have too much debt." "The prices of some things will decline. Others will go up. But we don't expect to see a decline in the overall price level," said Federal Reserve Chair Jerome Powell, Nvidia stock hitting new highs, its market cap soaring to $1.78trln. "That doesn't tend to happen in economies, except in very negative circumstances. What you will see, though, is inflation coming down," explained the Fed Chairman, the average American neither understanding nor caring about the nuance. "I would say this. In the long run, the US federal government is on an unsustainable fiscal path," said Powell, pointing out one of the most important top-down investment themes of the coming decade. "And that just means that the debt is growing faster than the economy. So, it is unsustainable. I don't think that's at all controversial. And I think we know that we have to get back on a sustainable fiscal path
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