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The bulging US debt situation is worsening as the nation battles overflowing debt numbers on all frontiers. The United States is currently busy handling a bleeding debt crisis on its hands that, if left uncontrolled, has the potential to paralyze the nation from all sides. Also Read: Ripple: After Reaching $1, XRP Predicted to Hit $2: Here’s How The United States’ Debt Situation Is Overflowing: What’s Happening? Image Source: Watcher Guru A recent post by the notable Kobeissi Letter brought forth a compelling insight to ponder. The platform uploaded the recent list of segmental debt metrics that the US is currently bursting with. For instance, the platform outlined that the US is currently battling internal debt issues associated with diverse sectors, including households and mortgages. Per KL, the US currently has a record $179 trillion in household debt. The aforementioned stats are followed by a record $12.6 trillion in mortgages, as well as $1.6 trillion in auto loans. S...

The decline of the US dollar’s value is accelerating with depleting purchasing power in 2024. A dip in the USD’s buying power could lead to hyperinflation in the homeland affecting the broader stock and commodity markets. The US dollar’s purchasing power is dwindling at a time when the BRICS alliance is looking to topple it from the world’s reserve currency status. Also Read: 23 Countries Officially Apply To Join BRICS Alliance Lynette Zang, CEO of Zang Enterprises, emphasized that the US dollar’s purchasing power is eroding. The Federal Reserve documented that only 3% of the US dollar’s original purchasing power remains in 2024. “This is what the official government data will tell us,” said Zang. This gives BRICS more mileage to take on the US dollar as its purchasing power is dwindling. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Additionally, Zang explained that the purchasing power at 3% in...

Bitcoin (BTC) gained $1,500 in seconds as the May print of the Consumer Price Index (CPI) showed inflation cooling faster than expected.  The most awaited U.S. Consumer Price Index (CPI) data today revealed that inflation remained unchanged at 0.3% in May, surpassing market estimates.  Notably, market watchers were eagerly anticipating this crucial inflation data for insights into the current economic health and the potential stance of the U.S. Federal Reserve with their policy rate plans. Picks for you Here’s when Gold price will hit $3,000, according to ChatGPT-4o 43 mins ago Imminent breakout? XRP whales accelerate accumulation around $0.5 1 hour ago ...

The national debt – which measures what the United States owes its creditors — hit $34 trillion as of Friday afternoon, according to new data published by the Treasury Department. It is the first time ever that US debt has surpassed that number. BREAKING: 🇺🇸 National debt surpasses $34 trillion for the first time ever. — Watcher.Guru (@WatcherGuru) January 2, 2024 The historic debt level comes as Congress races to finalize critical funding bills in order to prevent a government shutdown. The national debt is expected to nearly double in size over the next three decades, according to the latest findings from the Congressional Budget Office. Furthermore, at the end of 2022, the national debt grew to about 97% of gross domestic product. Under current law, that figure is expected to skyrocket to 181% at the end of 2053. Servicing the national debt crisis isn’t helped by the inflation battle that the US also continues...

As the economy has a direct connection to trader activity, the Gold price has been inching back to $2000 following the release of US inflation data. Currently, the metal is trading around the $1980 range, while reaching a daily high of $1998. Subsequently, the journey to break through the $2000 threshold will arrive after a stringent battle between bulls and bears. US inflation data is always a critical part of understanding the greater picture of the US economy. Moreover, it can typically present a key factor in predicting what the Federal Reserve will look to do in future meetings regarding interest rates. Yet, as the data had fallen in line with previous predictions, the price of GOLD had not seen the stark reaction that many had hoped for. Also Read: Gold Prices Could Reclaim $2,100 Levels in Q2 of 2024: Analyst Gold Price Seeking to Break Through $1990 in Quest for $2000 Mark Although it can certainly be volatile at times, there are few investment options as popular ...

New blockchain-based apps like Truflation could be a “healthy development,” given that gauging inflation is more art than science. So much of the world’s economic steam depends on interest rates, which in turn are tied to inflation, i.e., the rate at which producer and consumer prices are rising.  But measuring inflation isn’t easy. It is as much art as it is science. The world’s number one inflation index, arguably, is the United States Bureau of Labor Statistics (BLS) Consumer Price Index (CPI), which has been around for over 100 years. Not all economists and business leaders are happy with the CPI, however. Its methodology sometimes seems antiquated, and it publishes only once a month. It also relies on a workforce of 477 people who canvas supermarkets, department stores, gas stations and hospitals, often simply jotting down retail prices — not exactly 21st century. “Basically, they go to stores — whether it’s electronically or in person — and write down prices,” Nationwide insuran...

The new all-time highs come despite Bitcoin still being down over 50% against its price peak of $69,000 against the U.S. dollar. The price of Bitcoin (BTC) has notched new all -time highs against some of the world’s most inflationary fiat currencies. Across 30 hours over Oct. 23 to 24, the cost of buying one Bitcoin has reached all time- highs when using the Argentine peso (ARS), Nigerian naira (NGN), Turkish lira (TRY), Laotian kip (LAK) and the Egyptian pound (EGT). #Bitcoin just hit an all-time high in Argentina, Turkey and Nigeria. pic.twitter.com/sKRNUaBMX8 — Miles Deutscher (@milesdeutscher) October 26, 2023 However, it should be noted that the result is due to the ongoing devaluation of the currencies, exacerbated by Bitcoin’s recent 16% price increase. NGN and TRY fell to their lowest points against the U.S. dollar on Oct. 24 and Oct.25, while ARS is only 0.85% off its all-time low (against the U.S. dollar). According to the International Monetary Fund, the Venezu...

Another top-20 U.S. bank bites the dust, but Ethereum price fails to benefit from the event. Ether (ETH) price has shown weakness after failing to break above the $1,950 resistance on April 26. The subsequent correction drove ETH to $1,810 on May 1, nearing its lowest level in four weeks. Curiously, the movement happened while the First Republic Bank (FRB) was closed by the California Department of Financial Protection and Innovation. Curiously, the movement happened while the First Republic Bank (FRB) was closed by the California Department of Financial Protection and Innovation. The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement with JPMorgan to protect FRB depositors, estimating a $13 billion loss. Regarding this latest major U.S. bank failure, UBS analyst Erika Najarian stated, "This deal does not change the rates, recession, and regulatory headwinds that regional banks are facing." ETH price ignores banking crisis Curiously...

Bitcoin price action returns to tackle familiar resistance, with bulls so far failing to make fresh inroads toward $25,000. Bitcoin (BTC) rebounded to key resistance into Feb. 8 as crypto markets got a boost from a familiar source. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell: "Disinflationary process" is here Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching the important $23,400 zone on Bitstamp overnight. The pair reacted positively to the latest comments from the United States Federal Reserve, these also serving to send equities higher during the Feb. 7 Wall Street trading session. Fed Chair Jerome Powell again mentioned “ disinflation ” during his appearance, reinforcing market hopes that interest rate hikes could cool more quickly in line with inflation . These stemmed from the latest meeting of the Federal Open Market Committee (FOMC) on Feb. 1, where the Fed raised rates by 0.25%. “The message that we were sending at th...

The U.S. will pay over $1 trillion in debt interest next year, the equivalent of three or more Bitcoin market caps at current prices. Bitcoin (BTC) bulls do not need to wait long for the United States to start printing money again, commentators believe. The latest analysis of U.S. macroeconomic data has led one market strategist to predict quantitative tightening (QT) ending to avoid a “catastrophic debt crisis.” Analyst: Fed will have "no choice" with rate cuts The Federal Reserve continues to remove liquidity from the financial system to fight inflation, reversing years of COVID era money printing. While interest rate hikes look set to continue declining in scope, some now believe that the Fed will soon have only one option — to halt the process altogether. “Why the Fed will have no choice but to cut or risk a catastrophic debt crisis,” Sven Henrich, founder of NorthmanTrader, summarized on Jan. 27. “Higher for longer is a fantasy not rooted in math reality.” Henrich uplo...