On August 12th, a report from the United States Treasury Department revealed that the national debt had surpassed $37 trillion dollars, a feat that happened far sooner than analysts had predicted, according to recent analysis by the Associated Press.  

 

The US national debt reportedly grew faster than expected, thanks to the global Covid-19 pandemic and the subsequent shutdown of the world economy that came with the black swan event. The crisis was quite costly.

 

The federal government borrowed heavily under both President Donald Trump and Joe Biden to stabilize the national economy, according to the Associated Press. But Trump’s recent moves have also been an problem.  Instead of cutting the US national debt, Trump and the Republicans’ new budget legislation, which was recently passed and later signed into law on July 4th, will add trillions to the US national debt over a decade. 

 

US National Debt hits new high: Unpacking the amount of money owed

 

 

 N.B. The Congressional Budget Office estimated that over the next ten years, the legislation will add $4.1 trillion to the national debt. 

 

 

 

At this stage it doesn't really matter if it is 37 trillion or 370 trillion.

Clearly governments have given up , knowing that the big reset is coming.

Those debts will never be paid back.

New government debt bonds , the 1 trillion in interest , is just kicking the 

can further , buying time.

1 hour ago, FlorC said:

At this stage it doesn't really matter if it is 37 trillion or 370 trillion.

Clearly governments have given up , knowing that the big reset is coming.

Those debts will never be paid back.

New government debt bonds , the 1 trillion in interest , is just kicking the 

can further , buying time.

I was mercilessly mocked here for saying I was filling my boots with BTC at the $30k level due to exactly this. Great reset IS coming like it or not. BTC, gold, land. $ under the matress not so much🤣

Crypto and World Liberty Finance token (WLFI) to the rescue.

3 hours ago, SunnyinBangrak said:

I was mercilessly mocked here for saying I was filling my boots with BTC at the $30k level due to exactly this. Great reset IS coming like it or not. BTC, gold, land. $ under the matress not so much🤣

I'll stick with gold. 👍

Bought my first kilo at 33K euro.

 

Trump's stablecoin is just the same as a CBDC.

Only 2 more months till the digital euro.

Can't believe no-one started a thread about it here.

We expats are not all anglo's with dollars and pounds,

a lot of euros too that still have money there.