The rising US debt numbers are now urging several billionaires in the United States to bring attention and scrutiny to the stark debt development. The debt metrics of the US are worsening with each passing second, inching towards crossing the $34 trillion mark.
Moreover, the detrimental debt numbers are taking a toll on the US economy as a whole, compelling other nations like China to dump US bonds over such grave debt concerns.
Also Read: Purchasing Power Of The US Dollar (USD) Declined 23% In 5 Years
China Dumps US Bonds Worth Billions
In a new development, China dumped 53.3 billion worth of US bonds in Quarter 1. The said move was done primarily to bolster the Yuan against the US dollar. The development later pitched out another theory, adding how the dumping of US treasuries by China has also been done over security and concerns about further delayed rate cuts that were adding collective pressure…
