What is the difference between no investor or country will buy U.S. Treasury bonds, and the following sentence from the Wall Street Journal:
“In essence, the Fed now will print money to buy as much as $900 billion in U.S. government bonds through June—an amount roughly equal to the government’s total projected borrowing needs over that period.”
I do understand the difference, but I want the America-is-too-big-to-fail-I-have-blinders-on-crowd to wrap their mind around the fact that printing the money we need to finance our debt because The One cannot stop spending is happening now, and we could easily slip to a permanent print-money strategy if Congress cannot stop the spending.
Is it possible there is another reason the Fed is printing money other than for the economy?
Is it possible the U.S. has maxed out it’s debt markets and there are debt payments that cannot be made without printing money?
Will failing cities and states get access to the Fed window, er, printing presses?
When will Congress say No?
We know the bailer-out-in-chief will never say no to spending on his big-government-pals who themselves can’t stop their own spending.
When will America take responsibility for the failed spending policies, and let the bankrupt be bankrupt, instead of destroying the country’s finances so the Dems can save their buddies in, say, Pennsylvania?