[theluckycountry]

Wont be long now

The Incredibly Ballooning US Government Debt Spikes by $1 Trillion in 15 Weeks to $34 Trillion
by Wolf Richter • Jan 2, 2024

Interest payments threatening to eat up half the tax receipts may be the only disciplinary force left to deal with Congress.

In the seven months since the debt ceiling was lifted, the national debt spiked by $2.5 trillion.

These are huge gigantic numbers that are piling up as a result of the incredible hard-to-fathom daredevil reckless shake-your-head deficit spending by Congress. Congratulations, America! We made it, $34 trillion! Since the beginning of 2016, the total debt has spiked by $15 trillion, or by 80%! This stuff is just breathtaking.

Marketable securities: $26.9 trillion, up by $2.24 trillion in the seven months since the debt ceiling. They’re held and traded by the global public, from regular folks diving into T-bills to money market funds, bond funds, banks – oh lordy – insurance companies, other financial and nonfinancial outfits, including Apple and central banks.

https://wolfstreet.com/2024/01/02/the-i ... -trillion/

[yellowcanoe]

Wont be long now

The Incredibly Ballooning US Government Debt Spikes by $1 Trillion in 15 Weeks to $34 Trillion
by Wolf Richter • Jan 2, 2024

Interest payments threatening to eat up half the tax receipts may be the only disciplinary force left to deal with Congress.

In the seven months since the debt ceiling was lifted, the national debt spiked by $2.5 trillion.

These are huge gigantic numbers that are piling up as a result of the incredible hard-to-fathom daredevil reckless shake-your-head deficit spending by Congress. Congratulations, America! We made it, $34 trillion! Since the beginning of 2016, the total debt has spiked by $15 trillion, or by 80%! This stuff is just breathtaking.

Marketable securities: $26.9 trillion, up by $2.24 trillion in the seven months since the debt ceiling. They’re held and traded by the global public, from regular folks diving into T-bills to money market funds, bond funds, banks – oh lordy – insurance companies, other financial and nonfinancial outfits, including Apple and central banks.

https://wolfstreet.com/2024/01/02/the-i ... -trillion/

I used to have a book published at least 20 years ago which talked about the difficult financial future the US was going to have due to unfunded social security and medicare liabilities. It's truly amazing just how much further down the road the politicians have been able to kick the can. The $34 trillion debt doesn't include these liabilities.

[theluckycountry]

No it doesn't. And all that current debt, in the hands of corporations, (pensions?), the Fed? Imagine it if was monetized and started chasing real assets. Imagine the inflation.

[theluckycountry]

Speaker Johnson Announces $1.66 Trillion Bipartisan Package To Avert Shutdown https://www.zerohedge.com/political/spe ... t-shutdown

Of course they reached a bipartisan deal, they'll all be out of a job if they don't. These people are just parasites ensuring their own bellies are full at the expense of the people they represent. Democracy is such a sham.

They have harry Potter running the show now

[theluckycountry]

Hartnett: US Interest To Hit $1.6 Trillion By Year End, Making It The Largest US Government Outlay

[jato0072]

So the USA is issuing the same amount of debt as the 2020 lockdowns? WTF? Specifically 2022 where it started to rise again. Where is all the pork going? Yes, yes; A few 10s of billions to Ukraine, Israel, etc. but come on!

At this rate, I expect more inflation in the future.

Source - Wallstreet Journal with a paywall

Also the Brownstone Institute

[theluckycountry]

So the USA is issuing the same amount of debt as the 2020 lockdowns? WTF? Where is all the pork going?

Well a Trillion is borrowed now just to pay the interest on the old Trillions borrowed, there is a good start. And you don't even have to search up any data, the Federal debt is $34T and rising and the interest rate on Bonds is over 4%. 4% of 34T = 1.36T annualized. It's only 1T now because some of the old debt is at lower rates but the borrowing this year is like a NASA launch. There is your inflation my friends, food, houses, every basic of life as all this newly created money floods the system and bids up prices.

This is truly the end game, Trump will preside over the greatest financial collapse in human history probably.

The federal debt has been recently increasing by $1 trillion every 100 days. That’s $10 billion per day, $416 million per hour.

In fact, Uncle Sam’s debt has risen by $470 billion in the first two months of this year to $34.5 trillion and is on pace to surpass $35 trillion in a little over a month, $37 trillion well before year’s end, and $40 trillion some time in 2025. That’s about two years ahead of the current CBO (Congressional Budget Office) forecast.

https://internationalman.com/articles/d ... parabolic/

US Debt Goes Exponential – and It May Cost You Everything https://www.newsmax.com/finance/phillip ... d/1157707/


Alternatives to the $US?




If you don't understand the meaning of the $100 stamped on the coin, you're not alone. Probably one in ten thousand people understand anything about gold, so just go back to sleep.