The Cult Of The Dow And The Senate’s Night Of Infamy, Part 3

You could call it the Senate’s Night of Infamy, but even that would hardly do justice to the catastrophe at hand. We are speaking, of course, of the upper body’s 96-0 vote on the 883 page $2 trillion bailout that passed at 11:50 PM last night without a single Senator having read it (some of them being possibly not awake, as well).

Even if Uncle Sam was not already broke with $23 trillion of public debt and $20 trillion more built-in to current policy over the next decade, this bill would rank as a monstrous eruption of fiscal incontinence, as we shall catalogue below.

But what is far worse than its coast-to-coast soup lines and cascade of Free Stuff is the underlying predicates and theories being used to justify it.

In essence, the bill says there is no limit to the amount of money that the state and its central banking branch can borrow or print in order to hold harmless virtually every element and institution of the American economy at their January 2020 level of Fake Prosperity and egregiously inflated financial wealth.



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