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…Sadly, our politicians seem convinced that giant mountains of dollars can be printed, borrowed and spent indefinitely without any repercussions, and most Americans fully support what they are doing. In fact, one recent poll found that a whopping 78 percent of all Americans support more stimulus checks…[BUT] if you are in that 78 percent, you are wrong!
Yes, it is nice to get a big, fat government check in the mail but, in the process, we are rapidly destroying our currency, and what we are doing to future generations of Americans is beyond criminal…because the truth is that what we have already done to our currency is absolutely nightmarish. The following is the latest M1 chart from the Federal Reserve.
Thanks to our wild spending politicians and unprecedented intervention in the financial markets by the Federal Reserve, we have now entered an era of hyperinflation. It took from the founding of the United States to 2020 for M1 to get to 4 trillion dollars and then it took about one year for M1 to go from 4 trillion dollars to 18 trillion dollars. This is utter madness.
Of course the chart above doesn’t even reflect the impact the new COVID $1.9 trillion relief package…[which]…will make things even worse…[yet] most Wall Street investors are absolutely thrilled that another tsunami of money is coming. One recent poll found that “37% of Main Street investors” plan to pour stimulus money directly into the Wall Street casino…That should be very good news for stocks, but of course a major “trigger event” could crash the market at any time so we will have to wait and see how all of this plays out.
Conclusion
…We are printing, borrowing and spending our way into oblivion, and we have nobody but ourselves to blame…our politicians are gleefully murdering the reserve currency of the entire planet. This is not going to end well, but you already knew that.
Editor’s Note: The original post by Michael Snyder has been edited ([ ]) and abridged (…) above for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.
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