One month later:
Total US Debt is now $33.649 trillion, up $58 billion in one day and up $604 billion in one month… up $20 billion every day, up $833 million every hour.
At this rate US debt will be $41 trillion in one year. t.co/tOrhqmkFXL pic.twitter.com/UfYOluX1Bq
— zerohedge (@zerohedge) October 18, 2023
China 🇨🇳 has cut its holdings in US Treasuries to $805bn, the lowest level since 2009. pic.twitter.com/kZjB9r698x
— Win Smart, CFA (@WinfieldSmart) October 19, 2023
The US has “clearly lost the handle” on fiscal policy: Kirkoswald's Amoa. “It feels like whatever is happening, whether it’s political impulse, the answer is let’s spend some more. When it’s geopolitics, the answer is let’s spend some more.” t.co/LyaxP2c4Ki pic.twitter.com/w3C3zvfSU1
— Lisa Abramowicz (@lisaabramowicz1) October 18, 2023
Not a good omen? Signs of loss of bond appetite: media evidence #China selling USTs and now this … yet another jump in term premia! t.co/wHCmJc2C0P pic.twitter.com/JldeleZy6b
— CrossBorder Capital (@crossbordercap) October 19, 2023
Gold approaching $2,000/oz again, now poised for a historical break out that could mark the beginning of another long-term cycle.
Ray Dalio put it succinctly:
"If you don't own gold, you know neither history nor economics" pic.twitter.com/FZSBCo7FZm
— Otavio (Tavi) Costa (@TaviCosta) October 18, 2023
With a Current Debt-To-GDP Ratio of 122% Yellen Says Absolutely US Can Afford to Support More Wars
Treasury Secretary Janet Yellen stated on Monday that despite the towering U.S. debt-to-GDP ratio of 122%, the country will still support both Ukraine and Israel in their war efforts. During an interview with Sky News, when questioned about the nation’s capability to provide military aid considering its staggering debt, Yellen responded affirmatively. However, her optimism contrasts with the nation’s swelling debt concerns, casting doubts on the long-term economic implications of such commitments.
The US is sitting on a mountain of debt! As in over $33 trillion!
Despite what whispering Joe Biden says, he didn’t reduce the budget deficit other than briefly. The budget deficit is forecast to run persistemly high because of endless, reckless spending and forever wars (Ukraine, Israel and … Taiwan?).
(Bloomberg) — The Federal Reserve faces potential policy pitfalls ahead as it wrestles with how to respond to investor angst about the US government’s $33.5 trillion mountain of debt.
It’s exceedingly difficult to have sound monetary policy without sound fiscal policy. Biden/Democrats do NOT equal sound fiscal policy.
Adding to the pain, the long end of the yield curve is getting clobbered.
