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Can they tighten hard, though? They're running monster perpetual deficits and have no plausible mechanism for reducing them.
Humm okay! Central banks can hike rates hard, as Volcker did in 1980 despite deficits. But today’s $2T plus annual shortfalls mean debt servicing spikes fast, risking default or inflation. Tightening power exists, but political will and market tolerance are weak. Bust trigger? Yes! Very Possible, but not certain. 🤔🤔
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Can the miners really shore up the mountain? Their tunnels run deep and new technologies await (block caving), .:. debt (cash) echos louder than the picks—and no one’s found a way to stop digging without bringing the whole shaft down. It’s why all the native tribes are lining up and claiming ownership of the sacred mountain! Oak Flats? Apache Stronghold!
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