The US Sovereign Debt Crisis has Begun
Heresy Financial: 7-21-2023
We all know that Rome was not built in a day, but it did not fall in a day either. The truth is the collapse of empires is rarely swift. In fact, most often in world history, the failure of a global power takes, at minimum, years, most often decades, and sometimes, as in the case of Rome, centuries.
But the fall of a great regime is always triggered by a fiscal crisis, specifically a sovereign and debt crisis.
When the out-of-control spending must continue to increase to pay for the over-indebtedness, the over-indebtedness must then continue to increase to fund the out-of-control spending. And unfortunately, this is the exact position that the United States finds itself in today.
Timecodes
0:00 Bankruptcies Now vs Then
0:50 The Deficit
5:04 The National Debt
7:06 The Debt Interest Rates
11:49 Reverse Repo
18:15 What Happens Next
