Hospital of Cards

There is simply no way the federal government can indefinitely prolong the trend in healthcare spending. According to John Embry, chief investment strategist for Sprott Asset Management,

One of the few reasons that this remarkable debt edifice is still standing is the Fed's zero interest rate policy … in conjunction with massive Fed monetization of Treasury debt [which] has kept the interest rates on government debt ridiculously low, and thus the charade has been allowed to continue. If the interest rates on US government debt truly reflected both the real level of inflation in this country and the rising risk of some form of default, rates would already be sky-high and the US would resemble a massive Greece.[10]

Mises Daily, Andrew Foy, M.D.