What's scary is that for most of a hundred years, there's been little or no borrowing from the Fed, even in recessions (which is the point of including the recession data). And then, suddenly, KA-BLAM, 170 billion dollars in the space of about a year.
I look at this graph, and I see the shit heading directly for the fan.
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I look at this graph, and I see the shit heading directly for the fan.