{"id":66679,"date":"2024-02-01T08:08:13","date_gmt":"2024-02-01T13:08:13","guid":{"rendered":"https:\/\/olduvai.ca\/?p=66679"},"modified":"2024-02-01T08:08:13","modified_gmt":"2024-02-01T13:08:13","slug":"the-us-is-living-on-borrowed-time","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=66679","title":{"rendered":"The US Is Living on Borrowed Time"},"content":{"rendered":"<h3 class=\"font-bold text-3xl md:text-5xl mb-0\"><a href=\"https:\/\/vongreyerz.gold\/the-us-is-living-on-borrowed-time\">The US Is Living on Borrowed Time<\/a><\/h3>\n<p>In late December, I published a\u00a0<a href=\"https:\/\/vongreyerz.gold\/2024-markets-the-end-of-a-crappy-year-the-beginning-of-a-worse-one\"><strong>final report<\/strong><\/a>\u00a0on the themes of 2023 while looking ahead at their implications for the year to come.<\/p>\n<p>I repeated my claim that debt markets and debt levels made the future of Fed policies, currency moves, rate markets and gold\u2019s endgame fairly clear to see.<\/p>\n<p>Of course, as facts change, opinions change as well.<\/p>\n<p>But the facts are only worsening, which means my opinions in late 2023 are only growing stronger as we conclude the first month of 2024.<\/p>\n<p>Then as now,\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=D5Du05Fb3lI\"><strong>the debt-soaked US<\/strong><\/a>\u00a0is tilting ever more toward policies which will weaken its currency, wound its middleclass and reward its false idols (and false markets) with even greater desperation.<\/p>\n<p>In particular, some recent facts below are emerging which further support my otherwise sad conviction that the American economy (not to be confused with its Fed-supported stock exchanges) is literally living on borrowed time.<\/p>\n<p class=\"wp-block-heading\"><strong>The Latest Bits of Crazy from the CBO<\/strong><\/p>\n<p>Almost a year ago to date, I was shaking my head and rubbing my eyes as the Congressional Budget Office (CBO) announced a staggering $422B Federal budget deficit for Q1 2023.<\/p>\n<p>Now that\u2019s a lot of borrowing in a short amount of time\u2026<\/p>\n<p>For some strange reason, this bothered me in early 2023, as I was still under this odd impression that debt, and hence deficits, actually mattered.<\/p>\n<p>Fast forward to January 2024, and that same CBO has just announced a $509B Federal budget deficit for Q1 2024.<\/p>\n<p>Folks, that adds up to annual deficit run rate of $2.2T.<\/p>\n<p>Please: Re-read that last line again.<\/p>\n<p class=\"wp-block-heading\"><strong>Do the Math: DC is Getting Even Dumber<\/strong><\/p>\n<p>\u2026click on the above link to read the rest\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Is Living on Borrowed Time In late December, I published a\u00a0final report\u00a0on the themes of 2023 while looking ahead at their implications for the year to come. I repeated my claim that debt markets and debt levels made the future of Fed policies, currency moves, rate markets and gold\u2019s endgame fairly clear to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[195,1782,303,309,18507,379,12584,31019,647,827,834,3650],"class_list":["post-66679","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-debt-spiral","tag-fed","tag-fiat-currency","tag-gold-switzerland","tag-government","tag-government-spending","tag-matthew-piepenburg","tag-precious-metals","tag-united-states","tag-us","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66679"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66679\/revisions"}],"predecessor-version":[{"id":66680,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66679\/revisions\/66680"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}