ACarl (@ACarl)

The #OECD recommends that governments ensure the “long-term sustainability” of their #debt, as if politicians who created this disaster will suddenly discover restraint. They will not cut spending until the bond market forces the issue because every expenditure has a constituency and every reform threatens someone’s #election. They will raise #taxes, manipulate #markets, change #accounting rules, and blame #speculators long before admitting that government itself has become the greatest threat to #financial stability. The world must absorb $29 trillion in #borrowing during 2026 while #war expands, #rates rise, central banks retreat from bond markets, and private industry competes for the same capital. The system remains functional only because confidence has not yet completely broken. Once #investors question whether rolling government debt forward is worth the risk, the #refinancing machine will seize. Governments do not have $29 trillion sitting in a vault to repay these #obligations. They have only the ability to borrow again, tax the public, or destroy the value of #money. https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/the-29-trillion-debt-rollover-nightmare/ #centralbank #bondmarket