Analysts Raise Warning on the Growing U.S. National Debt

The U.S. national debt hit a record $34 trillion in January 2024 sending shockwaves across the financial sector. The $34 trillion in national debt is equivalent to $100,000 for every person living in the U.S. The debt is staggering and spiraling out of control as the Federal Reserve and Capitol Hill leaders are unable to clamp it. The growing U.S. national debt has met with criticism from financial analysts who warned investors about the dangers that are yet to come.

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U.S. National Debt: Financial Experts Raise Alarm

Rich Dad Poor Dad author Robert Kiyosaki raised alarm on the unending U.S. national debt by urging investors to buy commodities like gold and silver. Kiyosaki also urged investors to buy Bitcoin and be vary of the U.S. market conditions. He asked his followers to enter the commodity market and put their money into gold and silver. Gold is seen as a safe haven and a hedge against inflation.

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In addition, economist Peter Schiff criticized the way the authorities let the debt reach $34 trillion. “It’s only the 2nd day of Jan. and the national debt already blew past $34 trillion. I think 2024 will set a record for the largest one-year increase in the U.S. national debt in history. The only question is will there be a sovereign debt or dollar crisis before the year ends,” Schiff tweeted.

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The rising national debt is adding to severe pressure on the prospects of the dollar. Morgan Stanley, which was the only investment bank that was bullish on the U.S. dollar, downgraded it to ‘Neutral’. No other global leading bank is now bullish on the U.S. dollar and cut down the ratings for the USD. The development is significant and signals that the U.S. markets could be headed for a downturn this year in 2024.