Black swan turns white on US debt default probability
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Nassim Nicholas Taleb warns of a coming US debt spiral as the US debt tops $34 trillion and lawmakers gamble with Washington's last AAA credit rating. Moody's Investors Service warned it might downgrade America's credit rating. The US Congressional Budget Office (CBO) projects deficits jumping to $2.6 trillion in 2034 from $1.6 trillion this year. The political climate in the US leaves little reason for hope that lawmakers can head off catastrophe. The dominance of the US dollar as a reserve currency may be nearing its end. The dollar's share of global reserves fell at a rate 10 times the normal speed over the last 20 years. The US commercial property market is facing renewed contagion fears. Small US banks are facing acute problems due to their exposure to the troubled commercial real estate sector. Nassim Nicholas Taleb warns that the risks facing the US are about to intensify.

#UsDebt #DebtDefault #CreditRating #Deficit #UsDollar #ReserveCurrency #CommercialPropertyMarket

https://asiatimes.com/2024/02/black-swan-turns-white-on-us-debt-default-probability/