The Phaserl


The Budget Box & Containing the Craziness

by Gary Christenson, Deviant Investor:

Imagine that the US government is, euphemistically speaking, locked in a box created by deficits, debts, and decisions. There are six sides to the box – each an exit. We can describe them as:

1. Borrow more money and increase the national debt.
2. The Federal Reserve monetizes the bonds – “prints” the money to pay for government.

Let’s examine the six sides of this box in more detail.

1. Borrow more money to pay the bills. Sure, why not? Run that credit card up to the limit and then increase the limit. It has worked in the past and should work forever! But it seems that the Chinese, Japanese and Arabs are currently less interested in buying our bonds. There is a problem here. Maybe we should just print a few $Trillion – which leads to side two of the box.

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