Monday looms another US deficit ceiling showdown, but it seems all will be smooth.
The Republican agreed on a qui pro quo to pass the debt ceiling in exchange of a massive military spending increase.
Since 2008 the US pro capita debt jumped from just over US $20,000 pro capita to over $55,000!
But if you can print money ..who cares?
That is why the real battle US versus China versus Russia is the USD as a reserve currency! And also why the Fed is so slow in rising interest rate…imagine what a 0.25% increase does if you have a new limit of over USD19 trillion (currently just over USD18. World debt just over USD63 trillion)and the US has a population of just over 300 millions…that is what I call Big Spenders!
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