How this all works, considering the nation's technically insolvent, is quite miraculous.  But it works, nonetheless.  Again and again, the Treasury borrows money.  And Washington spends it.

Yellen likely knows that full faith and credit is too good to be true.  The U.S. government's gross fiscal mismanagement should call the veracity of its notes into question.  But why focus on it when there's an abundance to be acquired from weekly Treasury bill auctions?

On a recent trip to China, Yellen was spotted by a local food blogger consuming a plate of magic mushrooms.  An aide to Yellen later confirmed that she did, indeed, order them.  The restaurant's "staff said she loved [the] mushrooms very much.  It was an extremely magical day."

We don't know what their acute effects on Yellen were, while she was in Beijing.  But the mushrooms appear to be contributing to her chronic hallucinations about the U.S. economy's current health.  This week, for example, while attending the G20 meeting in India, Yellen remarked:

"For the United States, growth has slowed, but our labor market continues to be quite strong.  I don't expect a recession.  The most recent inflation data were quite encouraging."

These, no doubt, are the fantasies of a person under the influence of mind-altering chemicals.  Either that, or her mind has turned soft over decades of working as a professional economist for the Federal Reserve and the Treasury.