The US interest bill is a big worry:"interest on US debt -...

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alonso

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12/07/24

07:27

Post #: 74718263
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Originally posted by NavyDiver: ↑

Bacon costs to much for a billionaire apparently "
“I don’t even order bacon anymore,” the former president told the crowd during his 75-minute speech.
“I said, ‘It’s too expensive, I don’t want it. I don’t want it,’” thepurported billionaireadded.
“It’s gone up many times. Byron likes bacon,” he said, referring to Florida Rep Byron Donalds, who spoke at the rally before Trump.
“They say it’s gone up four times since I – four times. So we don’t eat bacon anymore, right? No more,” the former president continued.
“We want no inflation.”
Speaking in incomplete, incoherent sentences, he continued: “Think of it. People would destroy – people would destroyed with the inflation.”
"

100% Tariffs increase proposed by Trump would be inflationary as well. EU joined that party with Tariffs on top of 10% duty on Chinese built EVs. Suspect retaliation?

"Ahead of the bloc confirming tariffs of up to 37.6% on Chinese-made EVs on Thursday, a commerce ministry spokesperson told a news conference that Brussels and Beijing should keep negotiating, but kept the prospect of retaliation was alive with a reference to another investigation into EU pork imports."

Cost increases cause inflation. Smells a bit funny with significant German car exports for decades of course.

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The US interest bill is a big worry:

"interest on US debt - currently the second biggest government outlay at $1.1 trillion - will surpass social security and become the single biggest US expense before the end of 2024 at $1.6 trillion."...

Default on a debt repayment might be cause for panic but if/when it comes to default on the interest....

But I suppose that's what the printing press is for. I wonder is there any gold left in Fort Knox.
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