Posted by Larry Doyle on February 15th, 2012 10:17 AM |
Markets manipulated by the presence of massive infusions of liquidity from central bankers may give the appearance of calm, smooth sailing but under the surface an explosion of epic proportions continues to build.
What is fueling that volcanic eruption?
Chronic deficit spending.
With our fiscal deficit having grown by trillions of dollars over the last few years, make no mistake the withdrawal pains and devastation from this out of control spending WILL be extraordinary. Not might be. WILL be. Borrowing from future generations may be a political art form in Washington but it is truly nothing more than a failure of governance. (more…)