Market conditions are getting worse — not better — but you wouldn't know it judging by the rampant optimism among influencers.
While policymakers might be lackadaisical about government debt, they are more concerned about consumer debt. “I'm telling the American people that we're going to get control of inflation,” President Joe Biden said in a CBS interview on Sunday, prompting observers to wonder whether he was attempting to preempt this week’sof a potentially enormous, 100 basis point rate hike in the federal interest rate.
Maybe this outlook is the same as the one Elon Musk arrived at when he said in June that he had a “super bad feeling” about the economy. Other observers have issued even darker takes, including the famously debt-averseon Twitter in April. “Baby Boomer’s retirements to be stolen. $10 trillion in fake money spending ending. Government, Wall Street & Fed are thieves. Hyper-inflation Depression here. Buy gold, silver, Bitcoin before the coyote wakes up.
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