Back in the old days of fiscal sanity this was called monetizing the debt. Printing money to buy debt issued by the government. A horrible practice that leads to runaway inflation.
With millions no longer counted in the work force not receiving a paycheck, employment back to 1990s levels, ignoring food and energy in the official completely arbitrary consumer price index (CPI), we have 3% inflation levels and everything is under control. Move along citizen.
$1.664 trillion and counting. The Fed owns 11% of the US debt. China holds 7.4%, Japan 7%, oil exporters 1.6%, and foreign governments 32% of US debt.
Mitt Romney wants to pick a trade fight with China.
Obama wants to start a war with Iran.
Is it just me or does anyone see this not going our way?
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