Today, the US debt is over $23 trillion and growing. There’s a very real possibility that a byproduct of any slowdown in the economy could lead to debt default, the interest on the debt costing over $500 billion each year. With the reduced federal revenues that a recession would cause, the odds of the deficits increasing each year will grow until eventually it will be nearly impossible to service the debt without cutting expenses to the bone – including defense, btw – to forestall default.
It is a dire situation being made even worse by the Trump administrations racking up over $1 trillion deficits, still counting, and growing.
The global economy is heading into a recession. At least that is the fear after months of warning signs from the engine of global trade, which has spluttered this year. Here we examine 13 clues that the trend, after ten years of expansion, could be backward.
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#1. The escalation in the US-China tariff conflict.
👉 For the full transcript go to https://financearmageddon.blogspot.com
👉 Donate to help the atlantis report Channel: https://tinyurl.com/vqbgwld
👉Recommended Economic and Financial books :
Destined for conflict: Can America and China Escape Thucydides’s Trap? https://amzn.to/33RwG52
How an Economy Grows and Why It Crashes by Peter Schiff : https://amzn.to/33Tk8Ky
Bitcoin: The End Of Money As We Know It https://amzn.to/31TXAqX
The Death of Money: The Coming Collapse of the International Monetary System https://amzn.to/2L2688q