(INDEPENDENT SENTINEL) – Federal debt is up $100 billion in just four days. We’re on track for $37 trillion by the end of this year. And $40 trillion by the end of next, Peter St. Onge warns. A prominent Wharton professor is warning of a “meltdown” as early as 2025 as debt swamps financial markets. At some point, the U.S. will crash, probably sooner than later.
“Juan Gomez Wharton, senior vice Dean of Research at Wharton, warns the $34 trillion debt, soon to be 35 trillion, could trigger a spiral like we saw in Britain in 2022 when national debt fears spiked interest rates, sparking panic selling in bonds that threatened to crash the economy and bankrupt banks and even pensions…”
“St. Onge said, ‘The CEO’s of Bank of America and JP Morgan, the two biggest in the country recently warned of a quote market rebellion over debt as we careen towards a $5 trillion quote fiscal Cliff at the end of next year.'”
