In this report, I cover the early market action from London on Friday, March 29th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market, and the energy market.
Today I look at the U.S. economy and in particular what GDP or economic growth has been doing and more importantly, I also look at the U.S. Treasury's fiscal state and how it is spending taxpayers' money.
Even though we have been told for the last 18 months or so that the economy has been doing great, that unemployment is at record lows and that there is no inflation we actually witnessed the U.S. run a record $234 billion budget deficit for the month of February.
One would expect that with a supposedly great economic recovery the U.S. Treasury's tax receipts would be going through the roof but as I and many suspect the narrative of great economic growth is just propaganda. My conclusion is that when the next economic recession hits the Keynesians running the Treasury and the Central Banks will be out of fiscal ammunition and also the monetary kind.
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John Titus video:
▶️ DTube
▶️ IPFS
It a joke, but as big as the bloody mess our politicians are making of brexit it’s f##king disgusting. Thanks mike
My question is can the US Treasury and central bank ever recover from these financial mess and debt that they find themselves in.
No, is the short answer but it will be the general public who will pay for it.
As you say, a £234 billion budget deficit in February is dreadful and we are not in a recession - things do not look good.
Thanks for posting the John Titus video ( not heard of him before) Most interesting - the lies of the FED.