Attn: Tyler Durden
People waiting for the great 'unwind' are SOL.
1. The Fed never has to sell bonds. This has now been recognized by the new buzzword 'taper' .... the only thing that will happen is that the Fed will buy less when unemployment decreases to target levels.
2. There isn't the slightest whiff of inflation in US wages or prices of manufactured goods. The Fed is printing money? So what. That's what they do. They need to print more.
3. Per the CBO, the deficit/debt crisis is over. The projected deficit for next year is 2% of GDP. The US can run a deficit of 2% of GDP forever and reduce the total debt to GDP ratio. It's the denominator.
4. We are winding down the second and last of the Bush wars. This was all done 'off budget' and was never paid for. Ouch. But its done.
5. The biggest problems right now are: Benghazi talking points. The IRS scandal. Freedom of the press.
6. The US domestic oil production is a huge plus which will wipe out 1/2 the balance of payments problem. So much for peak oil.
7. Least Bad = Best. If you don't like the US, then what developed country do you like? Japan? Europe? Russia?
"6. The US domestic oil production is a huge plus which will wipe out 1/2 the balance of payments problem. So much for peak oil."
How does current total domestic oil production (2013) compare to total domestic oil production in 1975? Please point to a legitimate reference so even I can follow you.
NOT asked,but with oil alone even if we pay $10 per gallon,most of the money would stay in this country via state gasoline taxes & American companies as well as the Canadians...It won't cost that much as supply will drive prices lower & will increase use by Americanos!!! GBA...