Jerome Powell Tells the Frightening Truth – to a Point

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Jerome Powell finally admits the obvious, “The U.S. is on an unsustainable fiscal path, the U.S. federal government is on an unsustainable fiscal path. That means that the debt is growing faster than the economy.”

Jerome Powell Screenshot during Brian Williams interview.

TRANSCRIPT

NBC: Another economic hangover after the pandemic is a sharp increase in the national debt 30 years from now. It is projected to be $144 trillion or $1 million per household. How do you assess the national debt?

POWELL: We mostly try very hard not to comment on fiscal policy and, you know, instruct Congress on how to do their job when actually they have oversight over us.

NBC: But is the national debt a danger to the economy in your view?

POWELL: In the long run, the US is on an unsustainable fiscal path. The US government is on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy.

NBC: “I have the sense this worries you very much over the long run?”

POWELL: Over the long run, of course, it does, you know, we’re effectively – we’re borrowing from future generations. It’s time for us to get back to putting a priority on fiscal sustainability and sooner is better than later.

He only got one phrase wrong by saying “in the long run.” He should have said, “In the short run.” Nations are aligning against us – joining BRICS – and against the US petrol dollar. They are tired of the US weaponizing it, they don’t like WOKE, and they know we’re collapsing from within.

Our debt will be $50 trillion soon, which is unsustainable, as is the $34 trillion that we have now. Both parties seem addicted to spending, with only some Republicans balking when it was once the entire party. We’re still printing funny money (quantitative easing is a way of life), chasing wars, and alienating the world. We invited the impoverished and criminal world in, further draining our financial resources, as we kill off our best resource – energy.

When he says “long run,” he’s merely kicking the can down the road so he doesn’t have to face it. He knows it is here now.

There is also the obvious theft of the wealth of future generations. We’re saddling them with debt and poverty.

Quantitative Easing


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Canadian Friend
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Canadian Friend
13 days ago

Democrats want the economy to crash, Democrats want any crisis, be it covid, economy, illegal invasion, fentanyl, or even war, because in times of crisis a government can impose things that are impossible to impose in normal times

The Cloward-Piven Strategy is based on that idea ; create a crisis that will let you impose radical changes.

Democrats want those thing to collide, clash and crash, it is part of their machiavellian plan

James J. Troxler
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James J. Troxler
13 days ago

Blaming anyone is a waste of time unless there is an ounce of integrity in the ones actually in control of putting people in prison.
We the voters have chosen one thief after another to be in charge. Once a new thief takes his position at the money trough a new hole opens and begins to feed the pigs.
If you think this can change, I invite you to round up the pigs and turn them into bacon. It won’t work because the pigs are armed and will punish you at whatever level is necessary to cause an adequate amount pain to change your mind.
An excellent exercise in attempting to recover from the pigs is for a majority of voters read and learn the lessons of the DECLARATION OF INDEPENDENCE and THE US CONSTITUTION, and be willing to put their lives on the line to slaughter the pigs.
The last time this took place in the late 18th century the blood of voters willing to die if necessary to reclaim their freedom was sufficient to almost defeat the pigs. Unfortunately, a small number of pigs survived and have multiplied adequately to restart their efforts that we face now.
As our current situation stands, although it is possible that an adequate numbers of voters exist who are prepared and willing to kill off every last pig, the final willingness to eliminate every last pig will take courage that few voters possess.
I don’t know about you, but I sure like crispy bacon.