Paul Tudor Jones on our fiscal predicament:
—
JONES: So, if you just think about what’s happened in since really in the last three or four months, we’re getting ready, I don’t know if we’ll have a Minsky moment in the bond market. I don’t know if we’ll have that point of recognition. But we’re going to have the grinding reality that with 122 percent of debt-to-GDP, as interest costs go up in the United States, you get in this vicious circle where higher interest rates cause higher funding costs, cause higher debt issuance, which cause further bond liquidation, which cause higher rates, which put us in an untenable fiscal position. We, our interest bill is going to, very shortly, exceed our defense spending, in just a couple of years. Our, it probably in four- or five-years ceteris paribus will have the highest interest bill as a percentage of GDP that we’ve ever had. It will probably be close to 20 percent of your taxes will go to pay interest on the debt unless we do something.
—
Source: https://twitter.com/3xliquidated/status/1715509499023233232?s=46