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Larry McDonald - 1 Ray Dalio - 1 Nouriel - 1 that's - 1 It's - 1 McDonald isn't - 1 Nouriel Roubini - 1 — - 1
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☆ 'Mind-blowing' US debt binge amid high interest rates is threatening financial stability, Larry McDonald says
  + stars: | 2023-08-25 | by ( Joseph Wilkins | ) www.businessinsider.com   time to read: +3 min
The US government has spent some $28 trillion since 2020, causing its debt to surge to a record of almost $33 trillion. The spending binge has created a "mind-blowing hole" in the nation's public finances, according to Larry McDonald. Earlier this year, experts like Ray Dalio and Nouriel Roubini have also warned of the risk of a debt crisis in the US. Fiscal spending has skyrocketed since the pandemic and shows little sign of slowing — and this has created a "mind-blowing hole" in the nation's finances, according to markets guru Larry McDonald. "Another way to improve debt to GDP ratios is through hidden debt reduction i.e.
Persons: Larry McDonald, Ray Dalio, Nouriel, that's, It's, McDonald isn't, Nouriel Roubini, —, McDonald Organizations: Service, Fitch, Federal Reserve Locations: Wall, Silicon
☆ Stocks may crash 30% in 60 days as Americans run short of cash and investors jump ship, a markets guru says
  + stars: | 2023-03-09 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
US stocks could plummet as much as 30% over the next two months, Larry McDonald said. "The Bear Trap Report" founder sees higher interest rates choking demand and hammering the economy. McDonald also predicts investors will swap stocks for bonds to earn higher yields. McDonald estimated that every 1% increase in rates translates into a $50 billion rise in costs for middle-class Americans. He noted that interest rates on US auto loans are approaching 14%, and nearly 20% of those loans cost over $1,000 each month.
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