Representative Thomas Massie Interview on Redacted

Writes Tim McGraw:

Start the video at the 38:00 mark. The USA is bankrupt. The bond market is demanding higher interest on government bonds. Foreigners and Americans aren’t buying enough of the bonds, so the Fed will just create currency to buy the bonds. This leads to inflation of the money supply and a recession since the government is eating up all the capital (credit) available in the country.

We went through this in the 1970s. They ended with the depression of 1981-82 and interest rates of 21%. Happy Days are Here Again (if you have any savings.) For everyone else, tough times.