The New CS Board

[jumanji0881]

It's all about the debt -
https://www.zerohedge.com/markets/tesla-netflix-and-stock-market-going-much-lower-mark-spiegel

My Comment: Deficits don't matter until they do and then they really matter

Excerpt:
Meanwhile, even last year when short-term rates were set at just 0.125% and average rates were around 1.5%, the interest on the $30 trillion of federal debt cost $562 billion. That interest cost is now on a path to double, yet even then would still be far below the anticipated rate of inflation. Does anyone seriously think this Fed has the stomach to face the political firestorm of Congress having to slash Medicare, the defense budget, etc. in order to pay the even higher interest cost that would be created by upping those rates to a level commensurate with even 4% or 5% inflation (not to mention today’s over 8%)? Powell doesn’t have the guts for that, nor does anyone else in Washington; thus, this Fed will likely be behind the inflation curve for at least a decade. And that’s why we remain long gold (via the GLD ETF).