Fiscal Incontinence, Part 1

There is no doubt that Washington has descended into sheer fiscal incontinence. There is no other way to explain the fact that since the pre-Covid peak, nominal GDP has declined by about $735 billion, while our unhinged legislators have ponied up $6 trillion of Everything Bailouts to purportedly stimulate a recovery.

That’s right. These drunken sailors overshot the mark by about 8.2X, yet now they wonder why there are economic anomalies, dislocations, shortages, soaring prices and crazy-ass speculations everywhere.