Posted on 11/27/2023 7:20:19 AM PST by ChicagoConservative27
Nearly a third of all outstanding US government debt is set to mature in the next 12 months, according to an analysis from asset management firm Apollo.
A chart shared by Chief Economist Torsten Sløk in September showed that the share of US public debt set to mature in a year or less has steadily risen toward pandemic-era levels and is now at 31%.
In terms of dollar amount, that's $7.6 trillion, a high not seen since early 2021, and is a source of upward pressure on US rates, he added. In addition, public debt maturing in the near term accounts for more than a quarter of US GDP. However, this is below its 2020 peak, when it made up a significantly larger share.
(Excerpt) Read more at msn.com ...
And worse, the rate of average interest on the debt is likely to continue rising over the next several months. It's truly a nightmare situation that the idiotic "leaders" of our country have gotten us into.
This might be the straw that broke the camel’s back.
This will reignite inflation—but with a time lag as the government starts to pay the higher interest on the renewed debt.
Just one of the many features of central banking using a pure fiat currency, where every last dollar is loaned in to society with interest attached. Funny thing is, the interest is Never Created and can only be paid through the blood and sweat of labor. We used to call this sort of thing Involuntary Servitude.
Increased interest income received by the elderly will reduce their need for Social Security increases.
Low interest federal debt redeemed will take financial pressure off banks.
Increased interest income received by the elderly will help them pay increased property taxes.
The increased property taxes go for increased local government spending, some of which winds up being paid as federal personal income tax.
If you voted to get $10,000 off your student loans and will have to pay double to get a house you voted wrong.
Try to vote right in 2024.
The VAST majority of retirees are actually living on the Social Security. Any interest income they are receiving is a pittance.
A couple of independent economists at the University of Pennsylvania just recently put out a report saying that in their opinion, we only have a few years left to take steps to address this looming catastrophe, before we’re beyond the point of return where the problem becomes unfixable with standard budgetary methods.
Cmon man 😂
My view (fwiw) is that we have already passed the point of no return.
When you combine government debt, private debt and the financial weakness of almost every country in the world there is no way out—everybody is broke.
At this point it is like a neighborhood of broke people loaning each other money until they max out their credit cards—only one outcome is possible.
That said—timing is totally unpredictable.
The crash could happen very soon or it could still be a decade away.
Martin Armstrong’s number crunching says 2032 is when the world financial system crashes and burns.
Imho the “actionable intelligence” is to pay off all debt, cut spending to the bone and of course move far away from heavily populated areas and be as self-reliant as feasible.
My other tip—”the perfect is the enemy of the good”—folks should never get intimidated by the challenges—do what you can when you can.
Thanks for that.
We’re headed into a perfect storm, imo.
“Increased interest income received by the elderly will reduce their need for Social Security increases”.
You appear to be way out of touch with that reality.
Well,
The govt should just sell some more T-Bills——buyers are still there-—and use the proceeds to pay off the coming due notes..
Voila, can kicked down the road....
No worries....
It’s not the lenders fault.
It’s the borrower’s.
Both foreign and domestic buyers are demanding higher interest rates to compensate them for what they view as added risk—so new debt is more expensive than the older retiring debt.
It is like when broke people try to get car loans—they have to pay much higher interest rates than folks in decent financial shape.
They can get the loan—but the costs are just very high.
Yes that is true - cant argue that.
I wonder, does the US govt reserve the right to pay off these loans early?
If tats the case, its should refinance these loans when interest rates are low.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.