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Once upon a time, in the land of Oz On The Potomac, legislators promoting spending bills in the millions and billions were called “big spenders.” Legislation now priced in the trillions seems routine. The scope of recent spending boggles the mind.
Analysts at City National Rochdale, a boutique investment management firm in New York City, note that the U.S. Federal Reserve Bank and Treasury will have injected over $9 trillion in money or stimulus spending into our economy by the end of 2021. That’s $9,000,000,000,000, enough zeros to clog up a cheap calculator.
Offering perspective, Garrett D’Alessandro, Rochdale’s CEO, observed that this monetary explosion represents “enough money to ostensibly buy the entire economies of the United Kingdom, France, Spain and Italy.”  ....

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