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More than 35% of all U.S. dollars currently in circulation have been printed in the last eighteen months. The US debt has increased over the same period by several trillion dollars and is now close to $29T. There is no doubt that $30T will be reached in the coming months.
America's public debt to GDP ratio is now between 125% and 130%. The time when having such a ratio above 100% was an exception is over.
To support the current system at all costs, the Fed has been conducting an ultra-accommodating monetary policy since March 2020 which has inflated its balance sheet like never before. It now exceeds $8,500B:
The Fed's massive asset buyback program of at least $120 billion each month has made it join BlackRock as the world's largest asset manager. Yet this is not the role of the Fed, which is America's central bank.
The Fed's monetary policy has created a gigantic bubble in the markets
With interest rates lowered to zero, the Fed's monetary policy has pushed all investors into the equity market in a TINA ("There Is No Alternative") phenomenon. This has created a bubble in the stock market, concentrated even more strikingly in the shares of tech companies.
Microsoft and Apple now exceed $2 trillion in market cap, while Google and Amazon are not far behind. Behind them, Tesla is the biggest winner of the COVID-19 pandemic with a market cap that now exceeds $1.15T. Founder of Tesla, Elon Musk is now the richest man on the planet with a fortune of over $300 billion. He is more than 100 billion dollars ahead of his closest competitor Jeff Bezos.