America’s unelected (and unaccountable) central planners believe they can continue covering up the country’s worsening economic issues. They are wrong. Hedgeye CEO Keith McCullough explains why the wildly irresponsible fiscal and monetary policy trajectory is completely unsustainable.
“You cannot continue with these deficits and this debt without having to pay the bill,” McCullough warns in this clip from The Macro Show. “The Treasury debt maturing over next the 12 months is crazy.”
“In 2020, people said, ‘We’ll definitely never do that again’ (when Treasury debts maturing surpassed $7 trillion). Now, we’re going to do this (pushing Treasury debts to $8.7 trillion in December 2023).”
“To put this in context, there’s $34 trillion in debt. That’s gone up 500% since 2000,” McCullough adds. “We’re in wacky tobacky land here, okay?”
The two charts highlighted in the video are from the new 160-slide deck introduced in Tuesday’s Q1 2024 Macro Themes presentation. To access the full presentation, email support@hedgeye.com to upgrade your subscription to “Macro Pro.”
