Terrifying/Inspiring Thought of the Week

United States Department of the Treasury

According to Ray Dialo, founder of the hedge fund Bridgewater:

Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt, which is now about 6x of the money taken in, 100 percent of GDP, and about $230,000 per American family, will rise over ten years to about 7.5x the money taken in, 130 percent of GDP, and $425,000 per family. That will increase interest and principal payments on the debt from about $10 trillion ($1 trillion in interest, $9 trillion in principal) to about $18 trillion (of which $2 trillion is interest payments), which will lead to either a big squeezing out (and cutting off) of spending and/or unimaginable tax increases, or a lot of printing and devaluing of money and pushing interest rates to unattractively low levels.

So, the United States is in a very bad way financially.

It is also run by a man whose political party is too scared to cross him so they will let him do whatever he wants.

It is likely unavoidable now that the United States will have problems paying its debt. And the President of the United States has declared bankruptcy four times in his life to get his companies out of trouble.

By disaster or design, a post-growth world is coming.