Bidenomics Strikes Again

* Fitch just downgraded its credit rating on U.S. long-term bonds from AAA to AA+.

* We’re a bigger credit risk because we have so much [unpayable] debt.

* This may grossly impact interest rates going forward.

* It’s a warning: if you lent money to (i.e. bought treasury bonds from) the United States, you may not be paid back.

* That’s a problem when you owe $31T.

Editor’s Note

* Best case scenario — the debt bomb will grow to $47T by 2033.

* The interest expense on U.S. national debt is approaching $1T (and will surpass it in the next two quarters).

* Even if we ran a balanced budget, we would still add that much to our debt every year just to pay the interest on it.

* Historically, gubments have hyperinflated their way out of this problem.

* We’ll fall into a death spiral.

The full episode is linked below.

The Dan Bongino Show | 2 August 2023

https://rumble.com/v343nw3-the-break-glass-moment-has-arrived-ep.-2058-08022023.html