>>508450929I can't be "sure" of anything but the global bond (debt) market is more unstable and volatile than in half a century, nobody is buying the debt (people like Ray Dalio are warning about it), magnitude of global debt is greater than ever, U.S. debt has tripled since 2008 and almost doubled since 2019, inflation led by real estate/rent pricing is out of control, and Americans are increasingly funding their grocery purchases with credit cards.
Nobody is buying the debt aka bonds. Bonds are going unsold, the massive new issuances of Treasuries (and other nations' bonds) are going unsold.
Bank of England two years ago was forced to buy up bonds (put them onto their balance sheet) in order to keep U.K. pensions from imploding, Japan is going through another debt restructuring rn
https://archive.4plebs.org/pol/thread/500310690
Entire system is based on debt, that is what *backs* the global system is confidence, stability in the debt (bond) market.
Nobody wants to buy the debt