The U.S. Has No Ability Or Intention Of Ever Repaying The Debt

The reason a failure to raise the Debt Ceiling will lead to a default on the National Debt is that the U.S. has no ability or intention of ever repaying the debt. It will only borrow to keep the Ponzi scheme going until lenders wise up and dump their Treasuries and U.S. dollars.

Inflation In New Cars

Despite reporting falling sales, General Motors (GM) reported that average selling prices rose to $47,467, a 20 percent increase over the past year. That's ten times the Fed's official 2% inflation target. If prices rise another 20 percent this year, the average new General Motors (GM) car will set you back $57,000. Thanks to the Federal Reserve.

There Is Nothing Transitory About This Inflation!

For the ninth consecutive month, producer prices rose more than expected. The .7% jump resulted in a 8.3% year-on-year (YOY) gain. 

Excluding food and energy the rise was 7.3 percent! So far in 2021 the PPI is up 7 percent. Annualized the rise equates to 10.5 percent. There is nothing transitory about this inflation!