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Your chart shows the US national debt, not the budget deficit. The deficit for the first four months of the current fiscal year increased 77% compared with the
by panarky 8y ago
Your chart shows the US national debt, not the budget deficit.
The deficit for the first four months of the current fiscal year increased 77% compared with the prior fiscal year.
Revenues fell by 2 percent to $1.1 trillion, while spending rose 9 percent to $1.4 trillion.
Source: https://www.bloomberg.com/news/articles/2019-03-05/u-s-budget-deficit-widens-77-percent-as-revenue-declines https://www.bloomberg.com/news/articles/2019-03-05/u-s-budge...
All this during peacetime and economic expansion. What will this look like in non-ideal conditions of war or economic recession?
My point is that fiscal recklessness will increase as the Federal Reserve becomes more politicized. This will make the economic system more fragile and raise the probability of a catastrophe.
When the odds of financial catastrophe increase, the rational response is to allocate more capital to precious metals, real estate and two or three cryptocurrencies with the greatest hash power.
- dehrmann 8y ago> Your chart shows the US national debt, not the budget deficit. No, it shows debt as a percent of GDP. The idea is to normalize debt so the numbers are more meaningful. Context is everything. > Revenues fell by 2 percent to $1.1 trillion, while spending rose 9 percent to $1.4 trillion. I'm not especially concerned if also GDP went up, but the data's not out, yet. > What will this look like in non-ideal conditions of war or economic recession? See 2008-2015? That. That should worry you. Also fun: https://www.google.com/publicdata/explore?ds=ds22a34krhq5p_&met_y=gd_pc_gdp&hl=en&dl=en#!ctype=l&strail=false&bcs=d&nselm=h&met_y=gd_pc_gdp&scale_y=lin&ind_y=false&rdim=country&idim=country:uk:es:lu:el:de:fr&ifdim=country:country_group:eu&hl=en_US&dl=en&ind=false https://www.google.com/publicdata/explore?ds=ds22a34krhq5p_&...