The U.S. deficit and the Treasury bonds which must be sold to fund it are beyond comprehension.
The trouble with bonds (the U.S. Treasury variety, among others) is simple: there's too many of them being issued. Given that every government on the planet except Lower Slobovia is issuing unprecedented quantities of debt (bonds) to fund their skyrocketing deficits (and Lower Slobovia would too, if its credit rating wasn't -ZZZZZ), then we have to wonder who will be showing up to buy the $1.6 trillion in freshly printed T-bills the U.S. Treasury will issue this year to cover the expected Federal deficit.
This is of course "the new normal" given last year's $1.4 trillion deficit.
So what does that number--$1.6 trillion in newly issued Treasury bonds to fund this year's deficit--mean in the real world? Full article at: Trouble with Bonds
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