Debts 02 - Govt etc (Nov 16 - Jan 24)

[behappyalways]

US Debt: Visualizing The $31.4 Trillion Owed In 2023
https://www.zerohedge.com/personal-fina ... -owed-2023

[winston]

US Retirement Savings Shortfall Will Cost $1.3 Trillion

America’s retirement crisis could cost federal and state governments an estimated $1.3 trillion by 2040

Inadequate retirement savings will result in higher public assistance costs, decreased tax revenue, lower household spending and a decline in standards of living, according to a report done for the Pew Charitable Trusts.

The anticipated costs—$964 billion for the federal government and $334 billion for states between 2021 and 2040—are “relatively shocking,” said John Scott, director of Pew’s retirement savings project.

Source: Bloomberg

https://www.bloomberg.com/news/articles ... #xj4y7vzkg

[behappyalways]

China's debt-to-GDP ratio is actually higher than that of the United States? Why can a bunch of bad positions hold up? If 168 Bank of America banks are run on, they will not be able to hold on!

中債務佔GDP竟比美國高？爛頭寸一堆為何撐得住？美銀行168家銀行若遭擠兌撐不住！｜20230513｜@inewsplus

https://m.youtube.com/watch?v=GzQmqP04VFk

[behappyalways]

US Now Spends More Servicing Its Debt Than On National Defense
https://www.zerohedge.com/economics/us- ... al-defense

[winston]

US Consumer debt has set a new record high of $17 trillion

The largest source of debt for Americans is mortgage debt. So, as home prices and interest rates have skyrocketed in recent years, it would appear obvious why consumer debt is soaring.

And since mortgage debt isn’t necessarily a bad thing, we might be able to brush off this new record.

That’s logical. Unfortunately, it’s not what’s happening.

The mortgage debt hasn’t gone up that significantly.

So, it looks like consumers are taking out credit card debt and other things they should not be doing. So, that means consumer spending is going to be fleeting.

We find that new mortgage originations, including refinancings, totaled just $323.5 billion in Q1 2023. That’s the lowest level since the Q2 of 2014.

For additional context, it’s 35% lower than Q4 of 2022 and a whopping 62% lower than the same period a year ago.

So, if mortgage debt – “good” debt – isn’t driving this new record amount, what is?

Well, part of the answer is monthly expenses charged on credit cards.

Here’s CBS News:

… Americans are carrying a record $986 billion in credit card debt, up 17 percent from last year.

Inflation is causing many people to lean on credit cards to cover monthly expenses and most people are having to pay heavy interest on that debt…

LendingTree says the average rate is about 21 percent, and the average balance is nearly $7,300. If you're only making minimum monthly payments, that would take almost five years to pay if off.

Again, this does not reflect a healthy consumer.

Source: Investor Place

[winston]

Global debt tops US$300 trillion, and emerging markets owe more than ever

The world’s debt nearly set a record high in the first quarter of 2023, with sharp increases in mature markets, according to the Institute of International Finance

Findings come as senior Chinese finance officials have been reiterating concerns over capital outflows from emerging markets, whose debt is up 34 per cent since 2019

by Amanda Lee

Source: SCMP

https://www.scmp.com/economy/china-econ ... e=homepage

[behappyalways]

Visualizing The Rise Of America's Debt Ceiling
https://www.zerohedge.com/political/vis ... bt-ceiling

[behappyalways]

Debt priced in dollars within emerging markets is shrinking at the fastest rate since the Great Financial Crisis, and is the second largest decline in percentage terms that we’ve seen.

https://www.macrovisor.com/p/charts-of- ... tter&sd=pf

[behappyalways]

Global Debt Soars Again
https://www.zerohedge.com/economics/glo ... oars-again

[behappyalways]

Almost 50% of foreign-owned US Debt comes from 5 countries. Japan is the largest holder at $1.06 trillion, as of the end of 2022.

https://twitter.com/AyeshaTariq/status/ ... 3681416194