26:50 there’s no debt crisis Jack and Bob. The debt is our financial wealth. It’s obvious to see. I look at those pretty dollar bills that I’ve got and I can see that the government debt (cash, reserves & securities) are my financial wealth… and then add to that all those real goodies I get to buy with all those pretty dollars… you know this
3:00 Hey Bob, the inflation rate is above the Fed’s target of 2% because the Fed has set its Fed Funds Rate above 2%, to 5.25%-5.5%! The Fed Funds rate is the rate of inflation, a continuous increase in the price level… that’s what the Fed Funds rate does, continuously increase the price level… cmon now, you know that, right?