USA: IMPERIAL OVEREACH?
Down but not out... The United States Congress is considering modifications about the law that autorize the legal debt ceiling of that country. To be honest, that law is not the real problem, and worrying about it should be seen as irrelevant and a waste of time. The real problem is the growing debt itself and what to do about it. The US are already in default since January, and the Fed is just using tricks to keep things going. The Americans seems to be too politically divided to be able to devise a long range plan to manage that debt and to start reducing it. The rise of the US national debt is a long-standing problem, growing slowly in the shadows for decades, and the recent Covid-19 virus has greatly made things even worst, boosting enormously the outlay of public funds. Even if, admittedly, it was just for a few years, the sanitary crisis aggravated further a debt problem that is far from being limited to just the US. With an actual (and very costly) war in Ukraine and a looming