US Federal Reserve

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Next Wednesday, the Fed is widely expected to officially launch its balance sheet reduction or "normalization" process, as a result of which it will gradually taper the amount of bonds its reinvests in the process modestly shrinking the Fed's balance sheet.

Authored by Jim Rickards via DailyReckoning.com,

Right now, the United States is officially $20 trillion in debt. Over half of that $20 trillion was added over the past decade.

And it looks like annual deficits will be at the trillion dollar level sooner than later when projected spending is factored in.

Basically, the United States is going broke.

I don’t say that to be hyperbolic. I’m not looking to scare people or attract attention to myself. It’s just an honest assessment, based on the numbers.

Authored by Bryce Coward via Knowledge Leaders Capital blog,

The Federal Reserve is likely to decide next week to begin letting assets roll of its balance sheet as bonds mature, instead of reinvesting the proceeds.

In the beginning, Hugh Hendry was the consummate contrarian bear, which helped him make a killing a decade ago when everyone else was blowing up.