The US government is having more and more trouble selling debt to raise money to cover its deficit spending. Nations that rely on credit and overspend can’t survive.
The United States is in serious economic trouble. Our enemies will no longer buy our debt, and DC won’t stop spending. In fact, nations are selling our debt. They don’t want to buy. We’re becoming a junk bond nation.
Our debt is rapidly running out of control. The US government is trying to borrow so much money that the market cannot buy all of it.
WELCOME TO BIDENOMICS
Yesterday, the US government tried to borrow $24 billion by selling a bunch of 30 year debt.
It was a huge disaster. In order to get enough people to buy, the rate had to dramatically increase. Even then, then primary dealers had to buy 25% of the debt. The primary dealer are… pic.twitter.com/3gbAoAUPdx
— Wall Street Silver (@WallStreetSilv) November 10, 2023
Our debt is rapidly running out of control. The US government is trying to borrow so much money that the market cannot buy all of it.
The US borrowed $1.5 trillion in additional money in the past four months, and will have to buy another $1.5 trillion in the next six months. The debt is growing much faster than our economy, and this is unsustainable.
The US dollar is going to look like Venezuelan currency.
US household debt rose to $17.3 trillion. That is up $200 billion in the last quarter, bringing the average household debt to $132,500.
Most young people can’t pay for a mortgage or their credit cards, and college loans.
Auto loans are failing and 1.5 million cars are at risk of being repossessed.
By the way, banks are still failing here and there.
Household debt just hit an all-time high of $17.3 trillion. Led by credit card, car loan, and mortgage debt.
That’s up $200 billion — $2 billion per day. And it brings average household debt to $132,500.
The average American debt rose 21% in just 3 years. At that pace if would… pic.twitter.com/3JrYU7ORem
— Peter St Onge, Ph.D. (@profstonge) November 10, 2023
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