The Incredibly Ballooning US Government Debt Spikes by $1 Trillion in 15 Weeks to $34 Trillion.
Interest payments threatening to eat up half the tax receipts may be the only disciplinary force left to deal with Congress.
Since the beginning of 2016, the total debt has spiked by $15 trillion, or by 80%! This stuff is just breathtaking.
The total US national debt spiked by $1.0 trillion in 15 weeks since September 15, and by $2.7 trillion from a year ago, to $34.0 trillion.
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Source WolfStreet
Stanley Druckenmiller on the Fed's historic blunder: "When rates were practically zero, every Tom, Dick and Harry and Mary in the United States refinanced their mortgage, corporations extended. Unfortunately, we've had one entity that did not and that was US Treasury.
Janet Yellen, I guess, because of political myopia, whatever, was issuing two years at 15 basis points when she could have issued 10 years at 70 basis points, or 30 years at 180 basis points.
I literally think if you go back to Alexander Hamilton, it was the biggest blunder in the history of the Treasury. I have no idea why she has not been called out on this. She has no right to still be in that job."
Charlie Munger is not only a tremendous investor, he is also one of the wisest people on this planet.
In 2007, he gave the USC Law Commencement Speech, and it contains tons of wisdom.
Here are 8 Lessons he views as most important for a Successful Life 👇
"Evil doesn't have the last word... Joy and laughter, caring and compassion; those are what prevail in the end." - Desmond Tutu at the founding of The Elders, July 2007.
1/ How do you build long term performance? Warren buffet is 90. Half of his net worth was accumulated in the first 60 years and another half in the last 10. So stay healthy because the last 10 years matter! But what are the super long term skills every investor needs to master?
GPT-4 is the new data scientist 🤯
With the new OpenAI code interpreter model, you just have to upload the data and provide instructions in simple english.
The model does everything from cleaning data to generating insightful visualizations on autopilot!!
“If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them.”
Why is New York so big?
Why the biggest metropolis in the US?
Why are other East Coast cities smaller, like Philadelphia, Boston, or even Québec and Montréal?
Because of holes in the mountains and competition with the UK: