Question: Do Washington Democrats and Republicans have a plan to turn this looming economic shipwreck around…?

Does the Fed have a plan, or the U.S. Dept of Treasury…?

Answer: No, No, and No.

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US GDP “Grew” $334 Billion In Q4…. That Growth Cost $834 Billion In Debt

ZeroHedge, Feb 28, 2024 – Excerpts:

…First, according to the Biden admin, in Q4 GDP rose 3.2%, a modest drop from the 3.3% reported in the first estimate one month ago, and below the 3.3% consensus estimate.

While we already know this, the BEA reported that the increase in the fourth quarter primarily reflected increases in consumer spending, exports, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.

• The increase in consumer spending reflected increases in both services and goods. Within services, the leading contributors were health care, food services and accommodations, and other services (led by international travel). Within goods, the leading contributors to the increase were other nondurable goods (led by pharmaceutical products) as well as recreational goods and vehicles.
• The increase in exports reflected increases in both goods (led by petroleum) and services (led by financial services).
• The increase in state and local government spending reflected increases in both investment (led by structures) and consumption expenditures (led by compensation of employees).

But what does that have to do with the bitcoin spike?

Well, a closer look at the data revealed something stunning: a quick look at the increase in nominal GDP, which rose from $27.61 trillion in Q3 to $27.94 trillion in Q4, shows that the US economy increased some $334.5 billion in absolute nominal dollar terms.

But where did this growth come from? Why debt of course, and a lot of it. For the answer how much debt, we go to the US Treasury’s Debt to the penny website, where we find that debt on Sept 30, 2023 was $33,167,334,044,723.16 and debt on Dec 31, 2023 was $34,001,493,655,565.48.

In other words, it cost $834.2 billion in debt during Q3 to grow the US economy by $334.5 billion, or exactly $2.5 in debt for every $1 in GDP “growth.” Source: BEA and US Treasury

Which also brings us back full circle and explains why bitcoin is now trading at $60,000, the highest price since late 2021 and why it will not only surpass its all time high in just a few days, but why it will rise much, much higher, because the US is now well past the point of no return.

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