This Chart Says Everything

Who will own all of the U.S. debt when it hits $50 trillion in a decade? You will... and if you can't... then they'll just stuff it into the Fed vaults. Printer go "Brrr," markets go to the moon.

Dear Fellow Expat:

It’s almost time to call it a week. Grab yourself a drink. Have a steak. Enjoy the meal that you want to have – and ignore all the nonsensical do-gooder hypocrites nattering on about bugs and blackouts.

But before you head out, I need to show you a chart. This floated through my inbox today, and you need to see it.

It’ll give you another reason to order a double before Happy Hour starts.

We’re Mere Years Away from a Fiscal Disaster

The United States government’s twin fiscal and trade deficits are now at the highs of 2008. Janet Yellen will continue to spend at a breakneck pace to do everything possible to avoid a politically unpalatable recession.

The U.S. budget deficit tripled from a year ago to $2.3 trillion.

Proving the old adage “even a busted clock is right twice a day,” former Treasury Secretary Larry Summers – now a pariah among the more progressive economists out there – has called the ongoing deficit spiral “unsustainable.”

I think that’s a polite and pleasant eup…