PRC suspends publishing youth unemployment stats after June’s 20+% print. Breitbart editors: “PRC locked in deflationary spiral,” jobless estimates as high as 46%; Fed faces different scenario
Fed’s problem seems to be ineffectual rate increases that mainly destroy assets of many banks as well as forcing Treasury to offer higher yields to auction their quota of US debt. IOW, interest payments on US debt will consume ever more of the federal budget—or ultimately lead to default on interest payments, even frozen bond maturity obligations (AKA sovereign default, a Zimbabwe-type “Minsky Moment”)
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- 1Posted by $ mshupe 1 month, 1 week agoIt's too bad the author of this piece doesn't explain why "the basic social contract of their society" caused this mess and that it had to work that way. It's too bad the author doesn't explain that "described in the business media as a sign that the consumer remains strong or resilient" is focused on the same fallacious, demand side economics of which modern statists are so fond.| Mark as read | Best of... | Permalink
