Bessent's short-end financing approach, while bad policy from an ideological standpoint, is likely the 'least bad alternative'—the option that creates the least amount of acceptable pain—because there is no painless solution given how far out of control things have gotten.
normativepending
Speaker
Bill FleckensteinEvidence Quote
“there there is no good policy that's going to be painless enough to be acceptable given the fact we've let things get so far out of control... almost certainly there's going to be more inflation.”
Source
Bill Fleckenstein: We've Gone Past The Point Of No Return, Only An Epic Crisis Can Fix— The Julia La Roche ShowCreated: 6/18/2026, 1:58:45 PM
My Notes
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