CONCERNS GROW! The US Budget Deficit Soars to $ & States Adopting New Currencies｜AsianQuickTake

Welcome to Asian QuickTake with Jacob. In this video, we dive into the concerning fiscal state of the United States as of the latest fiscal year data for 2023. The U.S. Department of the Treasury’s report reveals a staggering annual budget deficit of $ trillion, the third-largest in U.S. history. This deficit, which stands at 6.3% of the GDP, signals potential economic recession despite deficit spending. We explore the decline in total tax revenue, the impact of 11 consecutive Federal Reserve interest rate hikes, and the consequences of rising interest rates on the U.S. Treasury bonds. While inflation is on the rise, we discuss Federal Reserve Chair Powell’s warning about the need to combat high inflation and its effects on economic growth. As the U.S. grapples with the debt ceiling, we analyze the challenges in eliminating the deficit through taxation and the role of the U.S. dollar as a global reserve currency. Learn about the resurgence of interest in the gold standard and the movement towards state-backed gold currencies within the U.S. Join us as we examine the shifting global financial landscape and its implications for the United States. Please like this video, subscribe to our channel, and turn on notifications to stay updated on vital topics in global economics, international relations, and geopolitics. Thank you for being part of our community. #USBudgetDeficit #Inflation #GoldStandard #DeDollarization #FederalReserve #EconomicRecession 💯TOP 3 Video China Shocks Yellen With Massive Selling of U.S. Bonds and Buying of Gold ▶ China to Accelerate Dumping of Up to $800bn U.S. Debt ▶ Swiss Sells $36.4 billion U.S. Treasuries ▶ ━━━━━━━━━━━━━━━━━━━━━ ✅ COPYRIGHT DISCLAIMER Asian Quicktake Doesn’t Fully Own Some of the Materials Compiled in Its Videos. It Belongs to People or Organizations Who Ought to Be Respected. If Used, It Falls Under the Following Provisions: Copyright Disclaimer Section 107 of the Copyright Act 1976. “Fair Use“ is Allowed for Purposes Such As Criticism, Comment, News Reporting, Teaching, Scholarships, and Research. ━━━━━━━━━━━━━━━━━━━━━ ✅ If You Are the Owner of the Materials Used in This Video, Let us Know in the Comments or Send a Email to me. We Will Follow Your Request Immediately. ━━━━━━━━━━━━━━━━━━━━━ ✅ FINANCIAL DISCLAIMER This Channel’s Content Should Not Be Interpreted or Construed As Financial Advice. We Are Not, and Do Not Claim to Be, an Attorney, Accountant, or Financial Advisor. This Channel’s Content is Not a Substitute for Financial Advice and is Solely for Entertainment Purposes.