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But we saved everything 🙂.
Andrew Lokenauth highlights the rapid pace at which the U.S. national debt is increasing, noting that it grows by $1 trillion every 180 days.
He illustrates the scale of time and debt by comparing a million seconds to 11 days, a billion seconds to 31 years, and a trillion seconds to 31,700 years. According to Lokenauth, the debt grew by millions even while reading his post.
Lokenauth has previously commented on rising government borrowing costs, noting the U.S. 10-year Treasury yield moving above 4.59% and the 30-year yield reaching a year-high of 5.12% in a recent post. He has also observed that consumer confidence in the U.S. has fallen to its lowest level in 50 years, below readings during the 2008 crisis and COVID according to another update. These observations provide additional context on current economic sentiment and market conditions.