The David Hunter Perspective - 2023-05-31
- Author
- Rhett Palmer
- Published
- Wed 31 May 2023
- Episode Link
- None
Read on for today's agenda below prepared by David (thank you very much). - Retired US Diplomat to 5 different nations David Hunter shares his knowledge, passion, interest, and experience.
1)The US Debt Ceiling Crisis: Next Monday is the extended deadline for US Congress to raise the US debt ceiling of $31.4 trillion. If it doesn't act, the US Treasury might be forced to default on some of its loan repayments, or slow down payments to Social Security and Veteran Benefits. Even if the debt ceiling is raised, what damage has this done to US reputation around the world?
2)Is the US Debt of $31.5 Trillion A Danger to Our Financial System?: The US has continued to borrow from American investors and global investors since getting off the gold standard in 1971 when Pres. Nixon dropped the link to gold. Since then, we have been free to borrow to finance government spending by going into more and more debt. Does this risk putting our financial future in jeopardy?
3)The Sick Men of Southern Europe?" In Europe, the 'sick men' of Europe included Greece, Spain, Portugal, and even Italy, France and UK. They all had large debt to GDP ratios, and their debt was unsustainable. Greece even declared bankruptcy. Later there were financial 'bubbles' in Spain and Ireland. The European Central Bank and IMF came to the rescue, but did that solve the problem? Is the USA becoming another 'sick man'?
4)Is the World Moving towards De-Dollarization?: The use of the US dollar as the world's reserve currency is facing pressure from Russia and China. They argue the world is being forced to submit to American political domination in accepting this dollarization equation. And America is unfairly benefiting. Is there an alternative?
5)Turkey Election Results: President Erdogan has won re-election in a hotly contested race. His opponent was trying to roll back Erdogan's shift towards Muslim religion and conservative values as heartland issues motivating Turkey. His loss would have returned Turkey to it's founder's vision of a secular political system.
