This ONE chart says it all......................from Rico

This ONE chart says it all. Forget the monthly 2-day FOMC theater, and ALL of the Fed's speeches to date.

- It has all been "talk"....just "hot air"....and, well, a LIE.

 

There is NO RECOVERY. There has not been, and there is not one in sight.

- IF the US was really in a "recovery" the Fed's interest rate would be rising, not flat-lined at zero.

 

But-but-but-but where did all that QE money go?

- It was NOT spent on creating growth.

- What didn't go to an already bloated government so it could expand some more, went to rollover government debt. The government is broke. Insolvent. It has to borrow money just to pay the interest on its debts (bonds).

 

The "interest" (or vigorish) on $100 trillion worth of bonds (debt) is enormous, and our spendthrift Uncle Sammy doesn't have the $1 trillion a month to rollover its debt, so it has to be "borrowed" from the Fed.

- Think of it as a maxed-out credit card that the owner cannot afford to make the minimum monthly payment on, so he uses another credit card to float the payment.