This can’t be good. How long can this go on for? This increase equates to $ 8 trillion per year.
JUST IN: Total US debt jumped by $500 billion in just 18 days after hitting $33 trillion, according to Zerohedge.
To be exact, total US debt is now at $33.513 trillion.
This means the US has added $28.5 billion in debt PER DAY for 18 consecutive days.
That's $1.2 billion per… pic.twitter.com/gP3l73smvU
— The Kobeissi Letter (@KobeissiLetter) October 7, 2023
US govt interest payments per day have doubled from $1bn per day before the pandemic to almost $2bn per day in 2023, Apollo's Slok has calculated. pic.twitter.com/DdcrIfc17Z
— Holger Zschaepitz (@Schuldensuehner) October 15, 2023
The US debt situation looks ‘unsustainable,’ and corporate defaults are rising, IMF warns
- The US’s $33 trillion debt pile is reflecting “unsustainable” fiscal policy, the IMF said.
- The government has already racked up a $1.5 trillion deficit in the first 11 months of 2023.
- “Under unchanged policies, debt dynamics in the US are very unfavorable,” the IMF warned.
Mounting debts in developed economies, exacerbated by climate change costs and political turmoil, are pushing the world closer to a potential financial collapse. A significant portion of the global debt increase, now at a staggering $307 trillion, is attributed to developed nations, especially the U.S., Italy, and Britain. The current scenario indicates that these nations might not escape economic fallout. With dwindling central bank support and escalating borrowing costs, there’s an alarming risk of a market catastrophe. Urgent calls for reforms are largely being ignored, setting the stage for potential crises within the next decade.
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#recession … #GFC2 #Debt Bubble edition t.co/DlC2ah6ajD pic.twitter.com/WkjFShp8W4
— Invariant Perspective (@InvariantPersp1) October 16, 2023
The Bank of Japan now owns 53% of the country's outstanding government debt.
Free markets died a long time ago.
— Gold Telegraph ⚡ (@GoldTelegraph_) October 16, 2023