“Worsening US debt outlook seen more in gold and bitcoin than in bonds”

“…The U.S. budget deficit widened to $1.7 trillion in fiscal year 2023 and is on track to reach $2.6 trillion by 2034, according to the Congressional Budget Office. U.S. government debt held by the public, meanwhile, is on pace to reach a record 106% of gross domestic product (GDP) in 2028, up from 97% in fiscal year 2023. It has soared to $27 trillion from $17 trillion in early 2020 and $5 trillion in 2007.

…This worsening trajectory has boosted demand for bitcoin and gold, which are often used as a hedge against inflation and the depreciating purchasing power of the U.S. currency.

…Michael Hartnett, investment strategist at Bank of America, said in a recent report that recent highs in gold and tech stocks are indicating that the “parlous state of US govt finances” will inevitably lead to policies including yield curve control “to prevent (a) debt crisis.”…”

https://finance.yahoo.com/news/worsening-us-debt-outlook-seen-133525076.html

The US is running out of money. Smart money can see it. It’s no surprise everyone is looking for different / better options for investment.