Daily Mail: This is what awaits the US - great powers collapsed when their debt costs exceeded their defense budgets

8

Currently, the status of the United States as a world hegemon is under threat. In early June, interest payments on the US national debt exceeded defense spending. If the situation does not change, a sad fate awaits the United States - the country will be divided under a colossal mountain of debt, writes the British edition of the Daily Mail.

The material notes that this is evidenced by the historical experience of mankind. All great powers collapsed when their debt expenditures exceeded their defense budgets.



According to reports from the US Congressional Budget Office, at the end of 2023, the amount of national debt jumped from $33,911 trillion to $34,001 trillion in one day. In 2024, the national debt grew by another $1,9 trillion and will soon reach an unprecedented size of $36 trillion. The costs of providing support to other countries, including Ukraine, Israel and Taiwan, also left a significant mark on this process.

Any great power that spends more on debt servicing than on defense will not remain great for long. This was true for Habsburg Spain, for the old regime of France, for the Ottoman and British empires. This law will be put to the test in the US starting this year.

– Professor Niall Ferguson pointed out.

Historian J. H. Callum Clarke elaborated that during the Roman Empire, cost overruns prompted emperors in the 3rd century AD to begin devaluing the currency. This caused enormous inflation, which ultimately left the state unable to defend itself.

The publication noted that the interest of foreign countries in purchasing dollars for international trade protected the United States from the consequences of high levels of public debt. But now there are more signs that the dollar's position as the world's reserve currency is becoming alarmingly unsustainable.

According to Professor Paul Kennedy, Asian countries, including China, hold huge amounts of American government debt in the form of Treasury bonds. The holders of these securities are capable of undermining the still existing status of the United States if they decide, due to some quarrel with Washington, to get rid of them, to summarize the article.

We remind you that more than 2/3 of the US national debt belongs not to other countries, but to American bankers.
8 comments
Information
Dear reader, to leave comments on the publication, you must sign in.
  1. 0
    23 June 2024 21: 34
    ...then the United States will face a sad fate - the country will be divided under a colossal mountain of debt, writes the British edition of the Daily Mail...

    A sad fate awaits Naglia - this is who, with each of his crimes against the Russian people, infuriates the Russian people more and more. Naglia has already exceeded the limit of Russian patience. As soon as the colossus with feet of clay, the USA, collapses, within a week there will be a crater left from England to magma.
  2. +3
    23 June 2024 22: 19
    more than 2/3 of the US national debt belongs not to other countries, but to American bankers

    This is the most important thing about the American national debt. That, in fact, they owe money to themselves.
    1. +1
      23 June 2024 22: 52
      We need to make sure that some VTB or Alfa-Bank can print money from us, and we would simply borrow from them.. endlessly..))
      1. -1
        23 June 2024 23: 50
        Will not work. There is a concept called “selling inflation.” We don't have that.
      2. 0
        24 June 2024 00: 51
        gold needs to be cloned
        DNA is already known
  3. 0
    23 June 2024 23: 53
    Times are different now. Previously, the defeated could retreat, lick his wounds, and after a while return to battle. Now the hegemons can destroy the entire earth, that is, there is nowhere to retreat.
  4. +1
    24 June 2024 00: 48
    The USA is a garbage can, government debts already exceed everything in the world, I don’t even know that figure!
  5. -2
    24 June 2024 09: 41
    The failed policies of the United States, all sorts of sanctions, are forcing many countries to switch to trading in national currencies, this will lead to the inevitable collapse of the United States