Bitcoin

When it rains, it pours. It appears that this is true for both weather and expansion to the monetary base of the United States. According to a report by the New York Times, “President Biden will propose a $6 trillion budget on Friday that would take the United States to its highest sustained levels of federal spending since World War II, while running deficits above $1.3 trillion throughout the next decade.”

Only a year ago, the pandemic began, and the Federal Reserve was forced to initiate a major stimulus for the economy via inflation and quantitative easing. Starting with $2 trillion, the stimulus package was supposed to enable the continuation of the American economy. Of course, the pandemic was simply a catalyst for increasing the already present inflationary practices of the Fed.

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