I was, unfortunately, sober enough to realize that I needed to get a lot drunker if I was going to withstand the horror of reading of even more economic fallout of the Federal Reserve’s disastrous decisions to create So Freaking Much Money (SFMM).
In particular, Michael Pento, in an essay in the Euro Pacific’s Weekly Digest newsletter, writes, “For the year 2010, the trade gap surged 43%, which was the biggest jump in a decade, as our government’s efforts to reignite consumer borrowing and spending led to a record number of imported consumer goods.”
I wince and moan, devastated by the very concept of a trade gap jumping by almost half in One Freaking Year (OFY), a situation where we bought more from foreigners than we sold to foreigners, thus many of the Fed’s trillions of new dollars flowed out of the US and into the world economy where it would produce its inflationary havoc, QED.
Mr. Pento is al