“We know this will happen again,” Fisher said during an interview with PBS FRONTLINE, “the question is will the taxpayer be held hostage, once more, if we have such concentration within so few hands?”
But perhaps Fisher felt he was being ambiguous. This would explain why the Dallas Fed president doubled down on his criticism of the U.S. government and banking industry's handling of the nation's finances during an address he delivered at Oklahoma University Tuesday afternoon.
"In my view we cannot continue to do what we've been doing. If we monetize the debt, if we bail out those that have accumulated debt with inflation by debasing dollar, we will have failed in our duty," he said.
And to illustrate his point, he showed this well-made, hilarious video from debtlimitusa.
Why is it funny? Well, if it weren't for the fact that the U.S. is in a very dangerous place (financially speaking), the way the U.S. government has handled the nation's finances would be genuinely funny -- kinda' like a dark comedy:
Seriously, that’s one of the funniest takes on the nation’s debt we've ever seen.
Sad and scary. But funny.
(H/T: Business Insider)