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by epolanski
72 days ago
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US will have to refinance $ 10T of debt next year. That's a gargantuan amount of money and I see no scenario in which this won't have quite higher yields than the expiring one, remnant of the low rate decade. With foreigners and hedge funds less prone to buy US debt right now it's going to be quite interesting to see what will happen. |
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The western world was happy to keep the USA as a global police force, as long as they didn’t step too far out of line and at least paid lip service to international law.
With that gone and now caring only about brazen self interest, there is little reason to support the USA as an ally, so they have been demoted to a trading partner(unwillingly).
Honestly it’s much better to do trade with literally anyone else besides the USA.