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Suddenly Everyone Is Hunting Alternatives To US $

Discussions about the economic and financial ramifications of PEAK OIL

Re: Suddenly Everyone Is Hunting Alternatives To US $

Unread postby theluckycountry » Sat 06 Jan 2024, 02:25:12

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/

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Re: Suddenly Everyone Is Hunting Alternatives To US $

Unread postby yellowcanoe » Sat 06 Jan 2024, 18:14:45

theluckycountry wrote: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/

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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.
"new housing construction" is spelled h-a-b-i-t-a-t d-e-s-t-r-u-c-t-i-o-n.
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Re: Suddenly Everyone Is Hunting Alternatives To US $

Unread postby theluckycountry » Sat 06 Jan 2024, 20:50:07

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.
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Re: Suddenly Everyone Is Hunting Alternatives To US $

Unread postby theluckycountry » Mon 08 Jan 2024, 02:12:21

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 :lol:

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