The Coming Reckoning: When America’s Debt House of Cards Finally Falls

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Title : The Coming Reckoning: When America’s Debt House of Cards Finally Falls
Link : The Coming Reckoning: When America’s Debt House of Cards Finally Falls

It was only ten weeks ago that the U.S. national debt crossed $37 trillion. Now, barely three months later, it's ready to blow past $38 trillion. A trillion dollars in ten weeks -- a number so enormous it's lost all meaning. Yet the most alarming part isn't the number itself. It's that no one seems to care. A silent madness has taken hold. Politicians shrug, economists rationalize, and the public tunes out. But every empire in history has hit this same wall -- the moment when debt, denial, and delusion finally collide. America is racing toward that wall at full speed, and when it hits, the entire global financial system will feel the tremor.

The pace of this debt explosion is staggering. A trillion dollars in new borrowing every few weeks -- not to build bridges, not to fund innovation, but mostly to pay for what's already been spent. It's a snake devouring its own tail. Washington insists the debt "doesn't matter." Some even laugh at the idea of a reckoning. The same Wall Street voices that mocked "deficit hawks" in the 1980s now mock anyone who dares question whether $38 trillion of IOUs can be rolled forever. But the math is merciless. The interest alone now consumes 23% of all tax revenue, and within a decade, that number will likely approach 40%.

At that point, the government won't really govern -- it will simply collect taxes to pay interest. The world's largest economy will become the world's largest debtor-in-perpetuity, borrowing new money just to pay the interest on old money. That's not a plan. That's a countdown. The real crisis won't begin with numbers -- it will begin with belief. When people, markets, and nations collectively decide that the system no longer works, it collapses overnight. (Ed note: An excellent analysis of the US financial situation. Worth reading.) (Read More)