Sunday, May 5, 2019

Endgame: Starting In 2024, All US Debt Issuance Will Be Used To Pay For Interest On Debt | Zero Hedge

While it is common knowledge that the US budget deficit is soaring even though the US economy is allegedly growing at a brisk, mid-2% pace, resulting in recurring bond trader nightmares about funding the growing twin US deficits (Budget and Current Account), what few people know is the increasingly ominous composition of this budget deficit.


This is why I'm converting basically all of my and LWJ's nest egg (which is a small nest egg, but there are those who love it) to cash or near-cash. O reader of RC, you have been warned!

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I converted half of my 401 K (cash-like instruments) for similar reasons just before the 2016 election. I must admit I slept better, and I try not to think about the returns I missed. And, because I am never wrong, it will turn out to have been the right move, because in the long run, etc, etc.

Posted by: Greg | May 5, 2019 12:24:47 PM

Gold, Tom lad, gold! Jimmy O'Goblins and Pieces of Eight.

Posted by: dearieme | May 6, 2019 9:18:38 AM