— Win Smart, CFA (@WinfieldSmart) October 4, 2023
What is going on with the US debt? There is currently no debt ceiling because former Speaker McCarthy suspended the limit until 2025 (foolishly). So Biden can borrow an unlimited amount of money.
It went up $275 billion in ONE DAY.
$442 billion in just two weeks.This is… https://t.co/v1zSp9UkfF
— Wall Street Mav (@WallStreetMav) October 3, 2023
Long-term rates are rising and it’s not all the Fed’s fault.
There is growing concern about rising debt levels.
Deficit spending is poised to spur trillions of Dollars of bond issuances.
What’s the game plan?
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) October 3, 2023
U.S. Now Has:
1. Record $17.1 trillion in household debt
2. Record $12.0 trillion in mortgages
3. Record $1.6 trillion in auto loans
4. Record $1.6 trillion in student loans
5. Record $1.0 trillion in credit card debt
The average house payment is about to hit $3,000/month…
— Win Smart, CFA (@WinfieldSmart) September 17, 2023
What we're seeing in Japan is the start of the treasury dump
This is about retiring all outstanding US debt by making treasuries worthless first then taking them out of circulation
This also ensures the Dollar remains the global reserve currency by causing chaos everywhere else https://t.co/TDdTFR5SHQ
— Financelot (@FinanceLancelot) October 4, 2023
The US government has a spending problem
National debt jumped by a staggering $275 billion yesterday
Total US debt now stands at $33.44 trillion – all time highs
US Debt-to-GDP is just under 120%
But has been consistently rising since the 1970s
This level of spending is… pic.twitter.com/k9nPPzQjYe
— Bravos Research (@bravosresearch) October 4, 2023
Financial Markets Are Breaking
Rising interest rates are destabilizing Wall Street’s outlook. The Federal Reserve’s previous low-rate stance is being upended, leading to significant financial market declines. Banks face major risks from increased government debt. As foreign investors and the Federal Reserve reduce their holdings in U.S. government bonds, fears of an impending recession intensify. Critics argue the Fed’s aggressive actions might necessitate policy reversals.