Other options also shaky. Central banks leery of Chinese RMB, its share still irrelevant. Euro’s share is stuck. But the yen’s share has been rising.
An increasingly important question, because someone always has to buy this debt – and it’s not just the Fed. But the share of foreign holders is waning.
But consumers again paid down their credit cards; let’s be honest, that’s abuse of stimulus.
Declining Hegemony. But still Hegemony.
Individual recipients don’t even have to work on a farm; people getting these payments can be “city slickers.”
Trillions flying by so fast, it’s hard to even count them. But somebody had to buy these Treasury securities. And it wasn’t just the Fed. Here’s who.
“Rapid growth is no longer possible” and “inflation is not going to be tolerated” in societies with slow wage growth: head of central bank of Singapore. It has been said out loud.
Someone had to buy the Incredibly Spiking US National Debt. Here’s who.
Foreign holders, US banks, and US government funds all dumped. But two big players gorged on it – and one of them was the Fed.
US National Debt Spiked by $1 trillion in 5 weeks to $26 trillion. Fed monetized 65%. Business debts spike to high heaven.