Albert Edwards: This Is The Most Insane Chart Of The Year

Well over a year ago, in the summer of 2023, we first pointed out that Biden's explosive budget deficit was one giant economic "stealth stimulus" amounting to $1 trillion or more, and was responsible not only for the remarkably stable US economic growth, but also for the unprecedented ability of the US to delay its long overdue slide into a recession. In short, Bidenomics was nothing more than one endless diarrhea of debt (one which has since pushed total US debt to over $36 trillion and was instrumental in Trump's Nov 5 victory), and which masked the growing stagnation by papering over the slowdown with $1 trillion in new debt every 100 days.

Curiously, even though the dementia-ridden Biden is now one foot out the door (both literally and metaphorically) as the trillions in debt he incurred to create the impression the US was doing great will stay with us until they get inflated away, and even though we did our best to expose the fake facade of Bidenomics, some still find it shocking how the outgoing president managed to fool so many for so long.