It’s beginning to look a lot like Christmas.

If you’re not fluent in macroeconomic lingo, don’t worry. It’s all obfuscation, anyway. Just go ahead and imagine you’re the US government. Everybody keeps beating you up over your debts. Everybody thinks your debts are so high you’re somehow dooming their grandkids. But check this out:

You’re actually just printing up money – trillions of dollars of it – and calling it ‘quantitative easing.’ People are buying this money by the ton, in current dollars, and spending it on government bonds, by the ton, at lower and lower interest rates. This while the dollar is losing value every day!

Get it? People know your dollars are worth less and less, but they keep asking for more and more. When it comes time to inflate out of this thing, you’re going to be the smartest guy in the room.

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