Why the Fed Can Look Hawkish. The Pieces of Financial Repression Are Quietly Falling Into Place.

America owes almost $40 trillion. To put that in context, America spends more in defense than the next 6 countries combined. Just the interest to service America’s debt eclipsed the massive defense budget in 2024. Roughly a fifth of every tax dollar you send to Washington goes straight back out the door as interest. What’s [ ]