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Apollo: For every five dollars the government receives in tax revenue, one dollar is spent on servicing the national debt, see chart.
First, there was a lot of chatter about the Treasury Debt Maturity Wall. Now add Software to that.
Apollo: Software faces a massive $40 billion maturity wall in 2028, dominated by lower-rated B- credits, exposing the sector to refinancing risks amid AI disruption and rates higher for longer, see chart.
McKinsey: The growing US national debt threatens investor confidence
The federal debt today stands at $38 trillion, or 120 percent of GDP. This is higher than the 119 percent recorded in 1946 in the aftermath of World War II and barely less than the all-time high set in April 2020 at the height of the COVID-19 pandemic. The United States has one of the highest national debt levels relative to GDP of major…
Debt, Deficits & Global Imbalances: Are Capital Controls Back on the Table? #J.P.Morgan #Report
Are there financial determinants of great-power decline and fall? This paper proposes “Ferguson’s Law,” which states that any great power that spends more on debt servicing than on defense risks ceasing to be a great power.
States have endeavoured, in some instances, by pawning their credit, instead of employing their capital, to disguise the hazards they ran. They have found, in the loans they raised,…
"[Alexander Hamilton] was the primary architect of the American financial system... a system that is still the envy of the world." - Consuelo Mack (Introduction) [00:00:15]
"Hamilton’s insight was that a national debt, if it is not excessive, will be to us a national blessing." - Richard Sylla (Discussing the Report on Public Credit)…
Ultimately, history shows the solution might be a more permanent devaluation. > The Roman Empire serves is the archetypal example of what lies ahead. By the late second century, Rome faced rising military costs to defend its vast borders, while the tax base stagnated. Rather than cutting spending, Emperors began shaving coins or diluting the purity of the denarius. Under Augustus, the coin was nearly…