Postcards: Wandering Through Switzerland With No Faith in this U.S. Debt Deal...
Dear Old Friend,
The Swiss lakes are lovely.?
But I can’t say the same about this debt deal.?
Yesterday, we saw more choppiness and a large move down in the financial and energy sectors.?
This morning, futures are largely flat after the House of Representatives passed a farcical debt ceiling hike that does nothing to prevent the U.S. government debt from barreling toward $50 trillion by the time I turn 50 years old.??
Government spending jumped by 40% from 2019 to 2023, and entitlement programs are unsustainable. Prepare for more inflation – with leaders lying about where it derives from.