Foreigners Are Dumping U.S. Debt At A Record Pace And Our $20 Trillion National Debt Is Poised To Become A Major Crisis:
"While most of the country has been focused on the inauguration of Donald Trump, a very real crisis has been brewing behind the scenes.
Foreigners are dumping U.S. debt at a faster rate than we have ever seen before, and U.S. Treasury yields have been rising.
This is potentially a massive problem, because our entire debt-fueled standard of living is dependent on foreigners lending us gigantic mountains of money at ultra-low interest rates.
If the average rate of interest on U.S. government debt just got back to 5 percent, which would still be below the long-term average, we would be paying out about a trillion dollars a year just in interest on the national debt.
If foreigners keep dumping our debt and if Treasury yields keep climbing, a major financial implosion of historic proportions is absolutely guaranteed within the next four years.
One of the most significant aspects of the “Obama legacy” is the appalling mountain of debt that he has left behind.
As I write this article, the U.S. national debt is sitting at 19.944 trillion dollars.
During Obama’s eight years, a staggering 9.3 trillion dollars was added to the national debt..."
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