Luke Gromen + Darius Dale: Why 'Money Printer Go Brrrrr' Is Our Inescapable Fate
This is how it all ends...
With the US and nearly every other major G7 country engaging in historically high levels of deficit spending and increasingly struggling to service their massive sovereign debt balances -- how does this all resolve?
Is there a path to a manageable ending here?
Or does is a debt crisis, or a currency crisis -- or both -- inevitable at this point?
In attempt to answer these fiscally existential questions, we're fortunate to be joined by two great macro minds: Luke Gromen of FFTT LLC and Darius Dale of 42Macro.
It's a true privilege to host both of these gentlemen on this platform at the same time.
Both are rock-solid in their conviction that this all ends in more money printing — a LOT more.
For a truly excellent discussion between two great gentlemen, click here or on the video below:
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Adam’s Notes: Luke Gromen & Darius Dale (recorded 7.22.25)
EXECUTIVE SUMMARY:
Unsustainable Fiscal Situation: U.S. debt ($37 trillion) and deficits ($2 trillion+ annually) are unsustainable, with true interest expense (interest, entitlements, veterans’ affairs) exceeding 100% of tax receipts, signaling an acute phase of a rolling debt crisis.
Short-Term Bullish, Long-Term Risks: Markets are bullish in 2025’s second half due to dollar decline (-10% YTD), industrial policy, and stablecoin-driven Treasury demand, but long-term risks include debt spirals and potential total war as printing becomes inevitable.
Fed Policy Shift: Political pressure on Powell reflects fiscal desperation, with
