.NoahCRothman: Slowly at first, then all at once. That's how a debt crisis would unfold.
That’s how a debt crisis would unfold: slowly at first, then all at once.
Not that higher rates by themselves will shake the public out of its sense of complacency when it comes to America’s ballooning debt. That would take a shock. But such an event isn’t unimaginable.estimates today that global central banks maintain about 60% of foreign exchange reserves in U.S. dollars. And 90% of transactions in foreign exchange markets are conducted in dollars.
The U.S. benefits tremendously from this privilege, and our near-peer competitors abroad resent it. Russian President Vladimir Putin has long lobbied for the creation of a parallel reserve currency that would bundle Russia’s ruble with the currencies of regional powers like Brazil, South Africa, India and China. Russia is in bad odor these days, but the desire abroad for a competitor to the dollar is widespread.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
You Can Stay in This ‘Hocus Pocus’ Airbnb in Salem for Just $31You Can Stay in This ‘Hocus Pocus’-Themed Airbnb in Salem for Just $31
Read more »
National debt growth under every president from Richard Nixon to Joe BidenToday's unprecedented $31 trillion national debt has been building for decades. See how much each president racked up from Richard Nixon to Joe Biden.
Read more »
In one Fort Myers neighborhood, Black residents feel forsaken in Ian's aftermathUnlike the affluent seaside communities of Sanibel Island and Fort Myers Beach, where the media has descended to chronicle every detail of the aftermath of Ian, the people who live in the squat homes in Dunbar have faced the crisis mostly on their own:
Read more »