Top Economist: U.S. Debt Bomb Is About to Wreck the Stock Market
6/25/20268 min
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The US national debt death spiral is growing by $6 billion every single day, now totaling nearly $38 trillion. Learn why this matters for you.
This breakdown covers the mechanics behind our current debt trajectory and the economic concept of secular stagnation. If you are trying to understand how excessive global savings and a consistent decline in corporate investment are reshaping the financial landscape, this analysis provides the necessary context.
We examine the relationship between the US national debt and broader economic trends, moving past headlines to look at the structural issues at play. By analyzing the current US economy, you will gain clarity on why traditional growth models are shifting and what the massive scale of the national debt crisis implies for the future of investment.
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✅ The global economy was built on a theory that never worked mainstream economics ignores the role of credit and debt in driving economic performance
✅ Steve Keen predicted the 2008 crash years before it happened by modeling private debt levels that mainstream economists refused to examine
✅ The United States currently owes almost $40 trillion and is increasing at $6 billion every single day on pace to reach $50 trillion by 2030
✅ Economies fall into two categories: "Walking Debt" (US, Spain, UK, Ireland) still carrying 2008 crisis debt anchors, and "Zombies to Be" (Canada, Australia, South Korea, China) that avoided 2008 by borrowing even more
✅ The next global crisis is predicted within 1-3 years, with Canada and Australia as the standout nominations for where it will hit hardest
✅ Australia doubled and trebled first-home buyer grants to restart a housing bubble delaying the inevitable crash by pushing debt to its ceiling
✅ The US economy is "moderately strong" but fragile — private debt only reduced from 1.7x GDP to 1.5x before growing again, like climbing Mount Everest without oxygen
✅ The Federal Reserve raising interest rates "in ignorance of the real economy" will trigger credit turning negative again, sucking the wind out of the economy
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Clips
Transcript preview
First 90 secondsDonald Trump· Soundbite0:00
The stock market has set 53 all-time record highs since the election. For the first time in their lives, we want to protect those values. We want to keep those values up.
Speaker 20:09
People keep saying this time is different. I don't think we've ever seen anything like this. Cash keeps coming into these markets. You don't see it ending well. I guess my question would be when.
Steve Keen· Host0:19
I mean, if I can use an Australian expression, I'm completely pissed off by having spent over a decade now publishing data showing extremely strong correlations between credit, which is change in the annual change in debt, and unemployment in America. They refuse to look at it because it's outside their prior notions that credit plays no role.
Speaker 20:36
What if the global economy was built on a theory that never actually worked? Steve Keen, who predicted the 2008 crash years before it happened, built models that exposed the hidden instability while mainstream economists failed to see the collapse coming.
Speaker 40:52
The United States currently owes almost $40 trillion. It's on pace to reach 50 trillion by 2030, and it's increasing at a rate of $6 billion every single day.
Steve Keen· Host1:03
As the economy starts to get back to that peak level of debt once more, uh, it'll run out of air and you'll start falling down again. And at this stage, the economics profession had just given up. They'd, they'd put their hands up in the air. We don't know what the hell's happening. I break the world into two types of economies. I call The Walking Dead of debt and the zombies to be. The Walking Dead of debt are countries like America, Spain, the UK, to some extent Ireland, which all had crises back in 2008, slumped afterwards, and now they've