The US government has run short of money
The government of the largest economy in the World has run short of money. At least that is what the US President was trying to tell his Jobs and Economic Growth Forum yesterday. Fancy that. This is a national government which issues its own sovereign currency trying to tell the world it is broke. This is a sovereign government that is responsible for capacity utilisation rates at 70 per cent and 15.7 million unemployed saying that is is running out of capacity to deal with the problem. My conclusion is that the only capacity they lack is sound economic advice. They should sack their existing advisors and hire some people who actually understand how the monetary system operates.