MUST WATCH:
— Stephen Geiger (@Stephen_Geiger) October 30, 2023
Stan Druckenmiller destroys Janet Yellen.
“I literally think if you go back to Alexander Hamilton, it was the biggest blunder in the history of the Treasury. I have no idea why she has not been called out on this. She has no right to still be in that job.” pic.twitter.com/aHp2iz7x1A
Janet Yellen: 2 years @ 15 basis points.
When the debt rolls over by 2033, interest expense is going to be 4.5% of GDP if rates are where they are now. By 2043, sounds like it's a lot of time, but it's really not, it's 20 years, and interest expense as a percentage of GDP will be 7%. That is 144% of all current discretionary spending. Let me repeat that: interest expense alone will be 144% at today's rate of all discretionary spending. So the politicians that are telling you and think that they're not going to cut entitlements, it's just an outright lie. The numbers absolutely don't work. It's a fantasy.
