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Cheeto's Economic Disaster: Let Them Eat Broccoli

Over at Macleod Finance substack(https://bit.ly/3LChfs8) Macleod lays out a compelling case for the end of fiat currency of today. With spendthrift Cheeto at the wheel another $1T in debt has been added to the national debt in the last 6m and the Fed will begin QE to keep the equity market together which will further reduce the purchasing power of the beleaguered dollar.

Cheeto's resurrected tariff policy of the 1890's that led to the robber baron's era has enthused him to push his aggressive tariff policy that has become his authoritarian weapon of choice and he has accelerated with his attempt to destroy NATO over Greenland.

Like Hoover's tariff policy in the late 1920's Cheeto is courting disaster but obviously doesn't care if he destroys the American reputation or economy. There is a real possibility that Cheeto will preside over a Great Depression 2.0 Wouldn't be surprising since all economic disasters have been watched by fascist Republicans.

With the purchasing power of the dollar now to 6 cents of what it was in 1971 when the US was taken off the gold standard by a Republican Nixon, this puts the country in a precarious debt trap which is politically unsolvable at this point.

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