Debt ceiling 2023: blow up China or blow up the national debt? | David Woo

The day of reckoning for the US debt explosion is finally here. With US federal debt now at $31 trillion, Washington is now spending more money paying interest on its borrowing than the combined research and development budget of the US private and public sectors. Wall Street is starting to worry about another debt ceiling crisis that in 2011 cost the US its AAA rating and tanked the stock market. Americans will decide this summer whether they wants to diffuse the debt bomb or embark on a costly arms race with China and Russia. The decision will have huge repercussions. A former top-ranked Wall Street global macro strategist tells it as it is. You may not agree with everything he says but he will make you reassess everything you thought you knew.

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