llterry5

You may recall the below image from past blog posts: Historically, growth in PCE has been, by a wide margin, the largest contributor to US GDP.    […]

I’m just not that creative.  But the title is perfect.   The Treasury yield curve today is very flat — closer to inverting.    And we all know […]

Which is unfortunate, because the financial benefit to the Treasury is quite significant.  Our national debt is about 1/2 a trillion dollars smaller than it otherwise […]