The brand new yr kicked off with some vital financial information. The US nationwide debt surpassed $34 trillion for the primary time, and economists predicted some regarding downturns. In the meantime, the political panorama is shaping as much as be simply as unpredictable. Right here’s a recap of the highest tales over the weekend.

US Nationwide Debt Hits New Excessive

The nationwide debt of the US has soared previous $34 trillion, a primary within the nation’s historical past. This alarming determine, revealed by the Treasury Division, marks a steep rise from the $1 trillion mark crossed in 1982. The nation’s debt is the entire quantity the federal authorities has borrowed to cowl incurred bills, usually by way of marketable securities reminiscent of Treasury bonds and notes. The debt pile had already exceeded $30 trillion in 2022. Learn the complete article right here.

Larry Summers on Trump 2.0 Menace

Former Treasury Secretary Larry Summers has voiced issues over the financial insurance policies more likely to be pursued by the frontrunners within the upcoming presidential race. Summers claims {that a} second time period for President Joe Biden would doubtless see a continuation of a Keynesian strategy to financial administration. Nevertheless, he termed a Trump 2.0 situation as “very threatening” to the US economic system, suggesting that historical past would choose those that go together with the subversion of American democracy. Learn the complete article right here.

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US Workplace Buildings Face Debt Cliff

US workplace buildings are bracing for a major debt cliff, with $117 billion in danger. Diversified actual property investments within the nation’s prime markets may very well be a possible resolution for this looming disaster. Learn the complete article right here.

Rosenberg Predicts 2024 Financial Downturn

Acclaimed economist David Rosenberg has issued a warning a few potential financial downturn in 2024, which he believes may destabilize the inventory market. Rosenberg compares the present scenario to the surprising recessions of 2007 and 2000, cautioning in opposition to fast dismissal of a downturn simply because it hasn’t occurred but. Learn the complete article right here.

US Manufacturing Downturn Continues

The US manufacturing sector contracted for the 14th consecutive month in December. This marks the longest droop for the sector since 2000-2001, highlighting the continued challenges confronted by the business. Regardless of this, some areas present indicators of stabilization, suggesting the speed of decline could also be slowing. Learn the complete article right here.

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