As a seasoned analyst with a career spanning over three decades, I’ve witnessed economic fluctuations across various nations and continents. The current state of the United States’ debt crisis is a matter of great concern, and the escalating national debt is indeed a looming threat that could potentially jeopardize the American Dream.
Discussions about the financial future of the United States, particularly concerning the debt problem, have been a significant focus in recent times, especially leading up to the 2024 presidential elections. Both political parties acknowledge that a shift in approach is essential to tackle the growing issue of national debt.
Additionally, the US dollar‘s value is progressively decreasing as the BRICS nations shift towards using their local currencies for global trade transactions.
Elon Musk, a prominent tech entrepreneur, believes that excessive government expenditure could potentially drive the nation towards financial ruin.
Over the next decade, it’s expected that the U.S. national debt will increase by a staggering $16 trillion. At present, the U.S. administration is shelling out approximately $1 trillion annually just to cover the interest on the existing $35.3 trillion debt. This massive payment has led some financial experts on Wall Street to suspect that the government’s actions could potentially fuel inflation of the U.S. dollar.
How Bitcoin Solves the Day for the American Dream
Robert Kiyosaki, a well-known author and investor, suggests that the United States’ debt crisis, which currently stumps all political parties, is the main issue at hand. With the escalating U.S. debts, Kiyosaki advises investors struggling with questionable currency to consider safe-haven assets like Bitcoin, Gold, and Silver as potential solutions.
While I want Trump to win… it really makes little difference if Trump or Harris win.
The real problem is the $35 trillion in US debthat is the real problem….neither Trump nor Kamala can solve.
As stated in earlier tweets the US debt goes up by $1 1trillion every 100 days.…
— Robert Kiyosaki (@theRealKiyosaki) September 13, 2024
Additionally, Kiyosaki emphasized that these three assets, being real forms of currency, appear robust and capable of withstanding the trials of time.
At the 2024 Bitcoin conference, US Senator Cynthia Lummis proposed adopting a Bitcoin strategy to prevent the United States from imminent collapse. She suggested that over the next five years, the U.S. government should acquire approximately one million Bitcoins, similar to the amount held by Satoshi Nakamoto, the creator of Bitcoin.
To tackle the significant issue at hand, Lummis proposed, in the presence of the Republican presidential nominee, Donald Trump, that the U.S. administration consider accumulating over a million Bitcoins within the following two decades.
In the near future, if Bitcoin prices continue to surge at an accelerated rate, a country could potentially use those profits to pay off its existing debt and even retain its gold reserves for future use. It’s worth noting that the price of gold has been steadily increasing lately, reaching a record high on September 13th, which suggests that we may be approaching another macroeconomic bull market. This trend could also incorporate digital currencies like Bitcoin.
Economic Outlook
It’s anticipated that the U.S. Federal Reserve will make the initial reduction in interest rates on September 18. This action could facilitate U.S. investors in more effortlessly obtaining what they perceive as ‘easy money’, due to the lower interest rates, thereby allowing them to compete more effectively on a global scale.
To begin with, the European Central Bank (ECB) has already taken steps by reducing interest rates in an attempt to boost economic growth. On the other hand, the mounting tension between Russia and NATO poses a potential challenge that might affect more economies globally.
Read More
Sorry. No data so far.
2024-09-13 13:19