US debt moving toward $50 trillion isn’t whole story. As the real figure far exceeds that, Washington will make it easy for Global South states to sideline the dollar. (asiatimes.com)

submitted 3 months ago by yogthos@lemmy.ml to c/usa@lemmy.ml

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[-] queermunist@lemmy.ml 8 points 3 months ago

Also sanctions are creating a parallel economy that doesn't operate in US dollars.

Also the high interest rates are making it too expensive for countries to borrow US dollars.

Also other countries are selling their US bonds and deleveraging themselves from the US.

Also petroleum, and thus the petrodollar, is on borrowed time.

🇺🇸 💀

[-] yogthos@lemmy.ml 3 points 3 months ago

it's a perfect storm

[-] Bakkoda@sh.itjust.works 4 points 3 months ago* (last edited 3 months ago)

It's a good thing the interest rates weren't insanely low recently otherwise large corporations might have over leveraged themselves and then had to perform massive layoffs to maintain dividends, earnings and executive compensation bloat. We really dodged a bullet there.

this post was submitted on 22 Jun 2024

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