IMO the USA is on the skids politically if all that
it can offer in political leadership is Trump or Biden.
Does this and $34 TRILLION debt signal the end of an empire?
The USD (the US imperial wealth extractive instrument) is rapidly
losing its global reserve currency status . Its share of forex reserves held by
O/S central banks has been falling rapidly which corresponds with its
drop as a %age on global trade.
The Ukraine war/US sanctions on Russia has simply accelerated
this process IMO.
This, IMO, snookers the US from printing greenbacks in wild abandon
which it has done since the GFC without incurring crippling inflation.
US debt 2008 approx. $8 Trillion.
Current Debt approx $34 Trillion
Average accrual of debt P/A $1.62 Trillion P/A which has accelerated since Covid- Ukraine War.
(Source: bis.org)
