Deja vu all over again???
Source: www.zerohedge.com, Bloomberg
The US National Debt is currently at $36.6T or $323K per taxpayer
source : usdebtclock.org
Europe's high-debt countries - like France, Italy and Spain - cheer Germany's fiscal expansion.
They're not doing that out of the goodness of their hearts. Germany now can't possibly say no to more joint EU debt issuance. A win for high-debt countries and their muddle through... Source: Robin Brooks
US economic data related to the CONSUMER has surprised to the DOWNSIDE by the most in over 2 years.
This comes as Americans pulled back on spending due to deteriorating labor market conditions and high inflation. 🚨Spending reflects 2/3 of the US GDP. Source: Global Markets Investor, Goldman Sachs
Nice visual of the Atlanta Fed GDPNow
Source: WinSmart
China's out with some proper fiscal firepower: Highest official deficit target in 30+ years
Plus... CNY1.3 trillion in ultra-long special sovereign bonds CNY4.4 trillion in new special local govt bonds CNY500 billion in special sovereign bonds China on Wednesday set its GDP growth target for 2025 at “around 5%” and laid out stimulus measures to boost its economy amid escalating trade tensions with the U.S. Beijing raised its budget deficit target to “around 4%” of GDP from 3% last year, according to the official report, as the country’s top legislative body held its annual meeting. The 4% deficit would mark the highest on record going back to 2010, according to data accessed via Wind Information. The prior high was 3.6% in 2020, the data showed. Source: Bloomberg, David Ingles on X, CNBC
Short-term pain for long-term gain ???
Trump has mentioned both falling bond yields and a goal of balancing the budget… There will be an “adjustment period” and “some disturbance.” He is really going for it.
Ray Dalio: debt crisis could cause 'economic heart attack' for US economy in the next 3 years
In an interview with Bloomberg's Odd Lots podcast published Monday, Dalio said the US is on the brink of experiencing an "economic heart attack" within the next three years if the administration does not commit to actively reducing the deficit, which now makes up about 7.5% of GDP.
