Thanks to Nick Lichtenberg of Fortune Online for the Headline
Oh well, America sneezes and the whole World catches pneumonia. Yes economics as well as decorum is up the spout in America and heaven knows where this is all going to lead.
The warning comes from the Committee for a Responsible Federal Budget. (CRFB) who are non-partisan but will probably have the FBI and ICE after them shortly.
So what might happen.
1 Financial Crisis – Investors will lose confidence, interest rates would spike and devalue existing bonds potentially triggering failures in banks and financial institutions.
2 Inflation Crisis, when money loses it’s value because the government has had to print more to avoid default, but kills the ability of normal people to buy normal things in the shops.
3 Currency Crisis Forget Trump’s tariffs, the dollar will go down in value and America will struggle to afford it’s already hefty imports.
4 Default Crisis, If the USA defaults on the interest payments of it’s Trillion’s of debts then global credit would freeze, stock markets crash and the World would plunge into a deep recession. This is unlikely.
5 Gradual Crisis This is more likely, a gradual erosion where no acute event occurs, but the American way of Life declines with an estimate that the real income per person would be 8% lower by 2050. Like a maggot eating away at an Apple.
Yes very depressing , but a good Headline nevertheless.
Namaste and Thank You for Reading.🙏









