14 lines
1.1 KiB
JSON
14 lines
1.1 KiB
JSON
{
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"HubID": "5262",
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"Date": "5/21/2025",
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"HubTags": [
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"External Platform Posts",
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"Future Map"
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],
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"Contacts": "",
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"Companies": "",
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"File": "",
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"Image": "5262__Image_URL.jpg",
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"Summary": "<p>The U.S. defaulting on its debt? Not possible, you say? Oh, it is very possible. The most recent comparable case study and the largest sovereign debt default to date was Greece in 2012. It could not pay its debt, so defaulted. Debt holders had to forgive 53% of the value of their government bonds. GDP collapsed 25%, unemployment peaked at 28% and youth unemployment peaked at 60% (these numbers are comparable to the U.S. 1930's Depression). Next up is Japan, with far bigger debt problems than Greece. We will see how they handle their situation, but they are teetering as we speak. What they do will be instructive for us </p><p>The attached chart shows credit rating of U.S. government going back to 1920. The rating agencies finally started knocking it down starting post GFC, and Moody's finally followed suit last week. Microsoft now has a higher credit rating (and lower interest rate) than the U.S. government.\n</p>",
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"Notes": ""
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} |