The US according to Powell can't maintain this level of debt. Interest rates are high because nobody wants to buy US bonds, and you've got talk of BRICS ending trading oil in USD altogether. Its not like its just borrowed and the US has no repercussions, this is all future austerity.

[–] yogthos@lemmy.ml 16 points 2 days ago (1 children)

If the status of the dollar collapses a reserve currency then the US will absolutely be in trouble. I think it's going to be a little while yet before that happens, but I do agree we're starting to see some initial signs of the process starting.

[–] turnip@sh.itjust.works 10 points 2 days ago (1 children)

I've heard someone speculate he will remove tariffs if other country buy 100 year US bonds. This seems kind of plausible.

[–] yogthos@lemmy.ml 12 points 2 days ago

lol yeah that's totally on brand