by David Stockman
Did we say it’s getting stupid crazy down there in the Imperial City?
Well, we probably have….ad infinitum. And we are doing so again but not merely owing to today’s abomination in the once and former Peoples’ House, which thinks so little of its oath to defend the constitution and the rights of current and future taxpayers that it approved the $2 trillion Everything Bailout without even a roll call vote.
Then again, like the late night TV pitchman says – wait, there’s more!
Consider the chart below, which surely the Fed heads have not. To wit, it took the Fed 85 years after its doors opened in 1914 to print enough money to fund a $600 billion balance sheet.