news

an article published on the india news in a social media tweet on october 3, musk commented on the record surge in u.s. federal debt of $204 billion: "the united states is heading toward bankruptcy." this is not the first time musk has expressed concerns about this issue. just last month, he noted that "everyone seems to be trying to stay calm on this matter." the article believes that the following reasons tell us that musk’s warning is justified.

1. the increase in u.s. federal debt hits a record

u.s. federal debt surged by $204 billion on the first day of the new fiscal year, reaching a staggering $35.669 trillion. not only that, the u.s. treasury department’s cash balance fell by $72 billion, resulting in a deficit of more than $275 billion in a single day. it is worth noting that economist e.j. anthony from the heritage foundation, an american conservative think tank, has also joined the team of warnings.

2. the two parties in the united states are unable to deal with the debt crisis

in september this year, musk met privately with el salvador president nayib bukele. bukele is known to be a supporter of bitcoin. musk posted on social media the two discussing the nature of reality and the impact of related technologies. some experts believe that the two major political parties in the united states have been unable to deal with the debt crisis. this situation may boost the price of bitcoin before the u.s. election. analysts from cryptocurrency hedge funds pointed out that this trend is likely to strengthen after the us election.

3. a dire warning from bank of america

bank of america analysts warned that the u.s. national debt will grow at a rate of $1 trillion every 100 days and could reach $36 trillion by the end of 2024. it was bank of america chief strategist michael hartnett who conveyed this alarming prediction, a statement that highlighted the urgency of the crisis.

4. blackrock ceo’s concerns

after musk met with booker, blackrock ceo larry fink pointed out that the current economic situation is "crazy" when commenting on the current large-scale easing policy in the united states. some analysts believe that the large amount of liquidity injected from global markets is likely to trigger stock trading fluctuations.

the article pointed out that musk’s warning on the u.s. economy, as well as many of the above-mentioned important insights, highlight the increasing need for the united states to step up efforts to solve the national debt problem and deal with the impact of national debt on the future.

reference message