During an appearance on Fox Business this AM, we were reminded once again why capitalist prosperity in America is so dangerously imperiled and why the great bubbles in the stock and bond markets are living on borrowed time.
It seems we got into a friendly but heated spate with the whole panel of Fox-style conservatives when it comes to the essence of Imperial Washington—–that is, war, spending, debt and printing press money.
Now, it’s not that Maria Bartiromo and her gang–including Wall Street Journal Fed reporter, Jon Hilsenrath—are some kind of big government socialists. Indeed, they nodded favorably when we slammed the Horribus appropriations bill and out-of-control Federal spending.
But that turned into a blizzard of disagreement and arm-waving when it came to the utterly wasteful $80 billion Pentagon increase, the Syrian gas attack hoax, the deficit-ballooning Trump tax cut, the destructive impact of the Fed money printers and the $1.8 trillion government debt bomb now fixing to slam into the bond pits.