My Comment: Meanwhile, real money (ie PMs) keeps falling. Fast food restaurants are a prime example of extreme price inflation. I don't go to fast food restaurants (I get ads in the mail), but I wonder how they manage to stay in business.
Elon Musk says ‘America is going bankrupt’ as 76% of June tax receipts went to interest on debt | Kitco News Excerpt:
“If you loaned the government $1 at the start of 2021 and got it back today, it’d only be worth about 80 cents,” he noted. “Even if you received 5% interest each year, you’d still be getting less back from the Treasury than you originally lent out.”
“This is why the stratospheric rise in the interest on the debt should concern everyone. Not only is it displacing funding for things like roads and the military, but it will also mean much more inflation unless we take a chainsaw to federal spending, la Argentinian President Javier Milei,” Antoni concluded. “That course correction had better come quick. The federal government is already running $2 trillion annual deficits, driving up interest on the debt exponentially. The time bomb of federal finance has already started ticking down.”
Responding to a different article covering Antoni’s insights, X owner Elon Musk, the world’s richest man, tweeted, “America is going bankrupt btw.”