Greenspan telling Congress in 2005 (in Greenspan-speak) that "The US' $100 trillion+ in off-balance sheet Entitlement obligations are owed in a hard currency the US cannot print":
Those off-balance sheet liabilities are now coming on- bal sheet at $3T/yr & growing 2x US receipts
Green index ≠ green market. 👀
The S&P 500 rose 0.7% Thursday, even as 10 of 11 sectors fell.
A few giants did the heavy lifting.
Still calling that a green day?