The New CS Board

[jumanji0881]

From Doug Noland's CreditBubbleBulletin : http://creditbubblebulletin.blogspot.com/2021/04/weekly-commentary-huarong.html

My Comment : Noland points out that China is in even worse shape

New data this week confirm the “global government finance Bubble” is alive and unwell. In the past, a $660 billion U.S. federal deficit over the course of a year would have been concerning. In today’s crazy world, it’s accomplished in a single month. March’s shortfall compares to the $119 billion deficit posted in March 2020. Last month pushed the deficit for the first-half of the fiscal year to a frightful $1.71 TN.

For the month, spending of $972 billion was up from the year ago $356 billion, while receipts increased to $268 billion from $237 billion. Washington borrowed 70 cents of every dollar it spent last month. About 50% of the $3.41 TN first-half expenditures were debt-financed. Worse yet, our federal government is on track for back-to-back years of $3.0 TN plus annual deficits.