One trillion is one million million so if you multiple that by 16 you have our debt today.
That puts your burn rate in perspective.
Nobody understands that number and there is no likely way to pay it back. You can read until your eyes bleed, but forget getting your head around it. It’s growing and it’s viral.
Obviously the gold bugs are perking again (I am tempted again), gold is quietly breaking out, and the US Dollar can’t be far from a selloff, but we are in uncharted territory. I liked this long interview on the Macro state of things.
We have been making up metrics for 20 years and that is driving down retail volume in individual stocks over to ETF’s which don’t make me any more comfortable about liquidity or who and how the markets are being run.
It has a been a quiet summer and I would not be surprised to see a thunderstorm or two in September.