Mike Novogratz sees US debt blowout, here's how Bitcoin can help
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The U.S. is at around 125% debt-to-GDP. Of the last 34 countries that got this indebted, 33 had to restructure their debt… The government needs to cut spending dramatically if we’re going to stand a chance against what may be a debt death spiral. Tighten the belt!!!Financial experts speculate that if left unchecked, debt profiles may soar and currency devaluation might be the alternative.
Novogratz's warning comes amid growing concerns about the resilience of the banking sector, which tends to come under strain during periods of economic turbulence. Analysts also assert that to avert a potentially dire scenario, there must be decisive action from government authorities to shore up the nation's fiscal position and foster sustainable economic growth.
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