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America’s New Debt Bomb
The United States today not only looks ill, but dead broke. To offset the pandemic-induced “Great Cessation,” the US Federal Reserve and Congress have marshaled staggering sums of stimulus spending out of fear that the economy would otherwise plunge to 1930s soup-kitchen levels. The 2020 federal budget deficit will be around 18% of GDP, and the US debt-to-GDP ratio will soon hurdle over the 100% mark. Such figures have not been seen since Harry Truman sent B-29s to Japan to end World War II. Assuming that America eventually defeats COVID-19 and does not devolve into a Terminator-like dystopia, how will it avoid ... (full story)
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- Aug 20, 2020 11:30pm Aug 20, 2020 11:30pm
- AnniLi
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- UKBanter
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The elites think we are stupid. They are in the main quite correct.
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- ettrader
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