Posted 3/26/2024, 12:12:00 PM
Soaring U.S. Debt Raises Fears of Market Crisis As High Rates Threaten to Further Batter Economy
- Soaring U.S. debt raises concerns of a market crisis like the 2022 Liz Truss shock in the UK, warns Congressional Budget Office director
- Debt servicing costs may hit $1 trillion in 2 years; bond markets could "snap back"
- Bitcoin, gold rally to record highs despite high rates, potentially pricing in crisis scenario
- U.S. debt 97% of GDP now, expected to exceed WWII record of 116% by 2029
- Negative real rates necessary with high debt; bitcoin, gold benefit from fiat debasement fears
