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Higher interest rates are creating a bigger problem than most realize.
With their aggressive return, the gargantuan pile of federal debt has suddenly become a lot more worrisome.
Higher interest rates means higher debt service costs.
And this is happening at the same time tax receipts are falling.
Which is causing the deficit to explode.
And this isn’t just a US problem. It’s happening around the world.
Today’s guest, macro analyst Luke Gromen, has long warned that the world has been heading into a massive sovereign debt crisis.
Are today’s ballooning deficits accelerating the day of reckoning?
And what will such a reckoning look like?
To hear why he predicts the deficit crisis will cause central banks to pivot their policies, watch our new video with Luke Gromen.
To watch Part Two of Luke Gromen’s interview, go here.
If you like these videos – subscribe to Wealthion, it’s one of the fastest-growing financial channels on YouTube.
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Image and article originally from goldsilver.com. Read the original article here.