One week after Wall Street's biggest establishment skeptic, BofA CIO Michael Hartnett warned that Yield Curve Control, along with Interest Cost Control, are both inevitable in a time when the US is adding $1 trillion in debt every 3 months and $1 billion in interest expense every 4 months...
US debt is rising by $1 trillion every 3 months... and US interest expense is rising by $100 billion every 4 months. https://t.co/D2Nkf1WkP2
— zerohedge (@zerohedge) March 28, 2024
... he is back in full doom mode and in his latest Flow Show (whose title "If The Dove Don't Fit" is in homage to the recently deceased OJ Simpsons, and a vivid reminder that the US judicial branch has been broken for decades) the strategist takes another big picture assessment of the dire situation, and concludes that as "Canada is jacking up capital gains tax rates from 50% to 67%, and highly indebted Western governments have promises to keep, and wars to fund" the only guaranteed outcome is one of even higher inflation, higher yields & higher taxation… until we get a central bank bailout of public sector.
