Mo' Money, Mo' Problems

by JASmius

Nominee for Federal Reserve chair Janet Yellen is awful. But the real problem is the Fed, not who is in charge.

Well, she's perky.  She might want to watch how much she crosses those sparkling eyes, though.  Freeze that way, and all that.

She also might want to mention the chief reason the Fed printing presses run at maximum capacity, 24/7 in perpetuity: debt monetization.  Since the Regime has no more suckers customers for its T-bills, T-bonds, and other borrowing instruments, the only way to maintain the fiction of borrowing capability in order to maintain the rank fiction of cellar-dwelling interest rates is for one tentacle of the federal leviathan - the Federal Reserve - to buy all the debt of another tentacle - the U.S. Treasury.  But who pays the price?  We do, through zippo return on savings accounts and burgeoning inflation.  And this house of cards can only remain stable if none of the Regime's creditors - say, the ChiComms - decide to sneeze in its direction by calling in that debt, which would detonate interest rates right along with inflation, create a radioactive crater where the precarious federal deficit used to be, collapse the United States Government and the American economy, give Red Barry that Final Crisis for which his desperation is so palpable, and, well, need I go on?

This young lady is as much a twenty-first century Jeremiah as I am.  Maybe she and I should get together and make a rightwing buzz-killing Dos Equis parody ad.  I'm an interesting man, after all.  When I'm not crossing my eyes.