Dollars and Smiles: The Debt Ceiling

Dollars and Smiles

For a currency-creator, money is like smiles for an individual; neither can run out of either. Which is why the ‘debt ceiling’ is akin to economic-self-harm. Imagine not allowing yourself to smile at your children or your friends because you have reached some arbitrary limit of smiles. Insane, right? Well, by not raising the debt ceiling, that is exactly what the US Congress is doing. Because of the debt ceiling, there can be no deficit spending when it comes to the Federal budget; all Federal spending must be “paid-for”.

Fund Flows

The economy and the stock market are driven by the fund-flows coming out of the Treasury and the credit creation of the banks.

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ANG Traders

ANG Traders

Forty years of private equity trading, and still learning.