American Economics Thread


Jura

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Unemployment benefits are now bigger than paychecks for many
Unemployment pays more than laid-off workers’ average weekly wages in many states, thanks to a $600 boost from Congress. On the high end, the combined state and federal unemployment benefit covers 129% of lost wages, on average, in Maine and New Mexico.
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Rettam Stacf

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4 min ago
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is it a lot, or not much?
The US debt was $24.1 trillion as of April 2020. The debt falls into two categories: intra-governmental holdings and debt held by the public.

The Treasury owes this part of the debt to other federal agencies. In April 2020, intra-governmental holdings totaled $6 trillion, or 24.9% of the debt.

The public holds $18.23 trillion, or 75.1%, of the national debt.1 Foreign governments hold about a third of the public debt, while the rest is owned by U.S. banks and investors; the Federal Reserve; mutual funds; state and local governments; and pensions funds, insurance companies, and savings bonds.

You can find more details of the breakdown, including how much foreign governments own in the article below.

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P.S. Jura, I choked on my own coffee when I saw those luxury car sales number in China :).
 
Last edited:

Gatekeeper

Captain
Registered Member
The US debt was $24.1 trillion as of April 2020. The debt falls into two categories: intra-governmental holdings and debt held by the public.

The Treasury owes this part of the debt to other federal agencies. In April 2020, intra-governmental holdings totaled $6 trillion, or 24.9% of the debt.

The public holds $18.23 trillion, or 75.1%, of the national debt.1 Foreign governments hold about a third of the public debt, while the rest is owned by U.S. banks and investors; the Federal Reserve; mutual funds; state and local governments; and pensions funds, insurance companies, and savings bonds.

You can find more details of the breakdown, including how much foreign governments own in the article below.

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P.S. Jura, I choked on my own coffee when I saw those luxury car sales number in China :).
It is all relatives. The bond market, like any market have a equilibrium price. The borrower (the government) has to pay a price to borrow. With supply outstripping demand, it will find itself having to pay a higher borrowing cost to entice purchasers. This cost will be reflected on the borrowing cost for business and individuals. Tough times ahead for the US economy!
 

foxmulder_ms

Junior Member
Total stock value of NYSE is around 20T and Nasdaq is 10T, Bond market supposed to be ~10T for corporate which include private ones. Total=~40T. So with the recent 2+3T = 5T money has been digitally printed :D (if we exclude that went to people with the stimulus which was ~0.5T) we can say that soon, US gov will hold >10% stocks+bonds :D All US companies are now SOEs lol.
 

supercat

Junior Member
38% drop in GDP in the 2nd quarter of 2020?
CBO projects 38% drop in GDP, $2.1 trillion increase in the deficit
  • The Congressional Budget Office projects GDP dropping 38% in the second quarter as 26 million Americans remain unemployed.
  • The forecast is about in line with most Wall Street projections.
  • In addition, the CBO sees the federal budget deficit swelling to $2.2 trillion in fiscal 2020.
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hullopilllw

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Anyone realised that US is essentially unable to sustain her economy if USD is no longer the main Reserve Currency ?
 

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