US Government to put on debt ceiling Kabuki Theater
Debt is the fundamental underpinning.
How scary is that? Not very since it has been the case for decades in what I call the age of Inflation onDemand. Periodically though, the government puts on this Kabuki dance drama as if there is any chance that they would change the mechanics of the financial system and economy that flows from it. It’s not political. It just is what it is. Both parties live by the same rules here in Wonderland.
The Trump era debt ceiling was set a $22 Trillion in 2019, the current level of debt is $28.5 Trillion and voila, all they have to do – both sides of the aisle – is agree on some new upside ceiling of mind boggling Trillions that will not be repaid except maybe partially through two methods of taxation; the normal kind that everybody sees and the insidious, almost magical kind known as inflation.
Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Did you hear that? They are going to invoke “extraordinary” measures. Ooh, sounds dramatic. What they will do is take their extraordinary measures, pretend that there is something of a crisis at hand and then when it comes down to it, agree on some new number that will be violated not too far out in the future.
Kabuki
Theater…
Performed for your entertainment.
Ha ha ha… how do you say “bravo!” in Japanese?
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