One of history's most successful hedge fund managers offers straight talk regarding the U.S. economy.
It's recently been a tough stretch for bond and equity investors. Treasury yields and stocks have fallen since mid-July because of worries that stubborn inflation would require the Federal Reserve to keep rates higher for longer, and the Government will have to issue more bonds because of soaring spending.At the J.P.
The amount of debt and the interest payments associated with it relative to the U.S. economy is eye-popping. In 2022, the"When the debt rolls over, by 2033, interest expense is going to be 4.5% of GDP, if rates are where they are now," said Druckenmiller."By 2043, sounds like a long time, but it's really not; 20 years, interest expense as a percent of GDP will be 7%. That is 144% of all current discretionary spending.
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