Market expert warns U.S. facing ‘granddady of all’ economic disasters
Finbold • • business
Key Points:
- Veteran investor Peter Grandich warns the U.S. is on a path toward a major economic crisis driven by soaring federal debt, projected to reach $64 trillion within a decade, surpassing previous estimates.
- These projections assume stable economic conditions, but a recession or inflation spike could accelerate the debt crisis timeline, with interest payments potentially exceeding $3 trillion annually at a 5% refinancing rate.
- Rising interest costs are consuming a growing share of government revenue, threatening core public services and fiscal flexibility, as total interest payments have nearly tripled since 2020.
- Debt pressures extend beyond the federal government to state and local levels, with some cities and states facing budget strains, while high consumer and corporate debt pose additional risks to economic
