ZH: CBO Director Warns Of Debt Market Meltdown With US Debt Is On "Unprecedented" Trajectory
ZH: CBO Director Warns Of Debt Market Meltdown With US Debt Is On "Unprecedented" Trajectory
"the director of the Congressional Budget Office, Phillip Swagel, issued a stark warning that the United States could suffer a similar market crisis as seen in the United Kingdom 18 months ago, during former Prime Minister Liz Truss’s brief stint leading Britain - which briefly sent yields soaring, sparked a run on the pound, led to an immediate restart of QE by the Bank of England and a bailout of various pension funds, not to mention the almost instant resignation of Truss - citing the nation’s "unprecedented" fiscal trajectory. "
Severe austerity is inevitable in USA, regardless of whether the Democrats win the next election. Soc-dem is hopium and economic conditions in USA will worsen.
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It says that the article is written by Tyler Durden and they are subtly peddling Bitcoin in there. What's up with that?
what you say is true. However, ignore the bitcoin peddling and the core points of the article are true. In summary, the USA is approaching a debt crisis in which the financial markets will not be able to absorb its debt securities at the rate they are growing. Due to interest rates rising, the debt is growing exponentially.
At that point, there will undoubtedly be severe cuts to welfare system.