In a new episode of the All-In Podcast, Palihapitya laments that the last-minute bill passed by Congress runs counter to meaningful reform, and does little to rein in the country\u2019s accelerating debt spiral.<\/p>\n
Palihapitiya says Congress did some rushed bargaining to get the bill through, and as a result, the bill moved away<\/a> from austerity and toward \u201cdebt-financed industrial policy.\u201d<\/p>\n \u201cThat lack of discipline is going to create, I think, a negative set of consequences\u2026<\/p>\n Today, I think the 10-year [Treasury yield] is around 4.5%. At the rate at which it\u2019s escalating since Liberation Day, by the end of this year, we\u2019re going to be past 5%. The 30-year is on a rate now to get past 6.25%, maybe even reach 6.5%. Those are way beyond what most people thought was a reasonable place to be for the United States economy.<\/p>\n So what will the implications be as rates go to those levels?\u00a0<\/p>\n You\u2019ll de-lever from the United States, you\u2019ll sell US debt, you\u2019ll own things like gold and Bitcoin\u2026 You\u2019ll have ratings organizations that add to this cascade by downgrading the United States\u2026 You\u2019ll have very smart people starting to signal that this is a much harder problem than they initially thought. That\u2019s how I personally interpreted Elon\u2019s comments over the last few days.\u201d<\/p>\n Over the weekend, billionaire Elon Musk said<\/a> that the only way for the United States to get out of its rapidly expanding debt problem is to exponentially grow its GDP.<\/p>\n \u201cI have come to the perhaps obvious conclusion that accelerating GDP growth is essential.<\/p>\n DOGE has and will do great work to postpone the day of bankruptcy of America, but the profligacy of government means that only radical improvements in productivity can save our country.\u201d<\/p>\n<\/p>\n \u00a0<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a>   Generated Image: Midjourney<\/p>\n","protected":false},"excerpt":{"rendered":"Billionaire venture capitalist Chamath Palihapitiya warns that a newly passed bill by Congress could deal long-term damage to…\n","protected":false},"author":2,"featured_media":135764,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,59472,1700,12,16,15,59473],"class_list":{"0":"post-135763","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-chamath-palihapitiya","10":"tag-economy","11":"tag-news","12":"tag-uk","13":"tag-united-kingdom","14":"tag-us-debt"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114579509369273514","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/135763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=135763"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/135763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/135764"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=135763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=135763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=135763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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