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The US government has borrowed $4.2 trillion in the last 12 months, pushing the total national debt to over $27 trillion. In order for Uncle Sam to borrow, somebody has to lend. So, who is buying all of these government bonds? Foreign and domestic investors, commercial banks and US government entities all buy US debt, […]
There seems to be mounting optimism that the US economy will rebound relatively quickly as states begin opening up and there is progress toward a coronavirus vaccine. But the optimism ignores deep problems in the US economy that existed before the pandemic – chief among them staggering levels of debt and the proliferation of zombie […]
Celsius Network, founder and CEO Alex Mashinsky calls the bond market, “the biggest bubble that hasn’t burst yet.” And when the massive bond bubble pops, that’s when the real earthquake begins. The US Treasury Department is pumping out bonds like there’s no tomorrow. It announced this week that it plans to borrow $2.99 trillion in […]
It’s been a wild ride on Wall Street this week — all downhill. Stocks entered correction territory Thursday and are on track for the worst week since the 2008 financial crisis. As Peter has put it, this stock market is a bubble looking for a pin. Is the coronavirus the pin? In this episode of […]
During a podcast last week, Peter Schiff asked a key question: Who is going to buy all of this US debt? The US Treasury Department plans to auction off around $1.4 trillion in Treasuries this year. And it won’t end there. The department expects that pace of borrowing to continue over the next several years. […]
