Alternative Visions

Alternative Visions - The $12 Trillion Crisis


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As the main topic of the show, Dr. Rasmus discusses the letter to the US Treasury by the Treasury Bond Advisory Committee (TBAC) this past week, warning that $12 trillion more in US Treasury bond sales will be needed over the next decade in order to finance rising US government debt. The $12T more per the TBAC is about equal to the net increase in federal debt (from current $21T to $33T) that Rasmus has been predicting will occur by 2028 due to Trump tax cuts, rising defense spending, and the next recession around the corner—with Interest payments on that debt alone equaling $900 billion a year, per the CBO. In a related topic, Rasmus discusses the latest data that show that Fortune 500 corporations’ stock buybacks plus dividend payouts will reach $1.4 trillion for 2018—up from $1.1 trillion in 2017 and from $500 billion in 2009. How the two trends of escalating government debt and accelerating $trillion a year plus buybacks-dividends are connected.  The latest on Trump-Powell confrontation over rate hikes and coming breakdown of Russia-Saudi agreement on oil production are also addressed.
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Alternative VisionsBy Progressive Radio Network

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