Denninger: A $5 Trillion Annual Borrowing Rate
Denninger comments on the recent Treasury bill auctions:
This is the price of supporting the grift and fraud in our banking system.
I count $207 billion, coming two weeks after a $250 billion dollar week.
Let's annualize - that would be about $5 trillion a year in annualized issuance. My-oh-my how long can this continue?
Read the rest.