For decades now, nations have been taking on debt far faster than their GDP has grown.
They’ve kept the borrowing binge alive by having their central banks conspire to push interest rates ever lower.
But that process is unsustainable. It’s a limited-time swindle that ends when the debt service costs become too onerous.
And the massive amounts of new debt issued in the wake of the pandemic have rocketed us down much of the remaining limited amount of road the system had left until it reaches its day of reckoning, portfolio manager Michael Lebowitz cautions.
Michael is part of Lance Robert’s team at Real Investment Advice, one of the financial advisory firms that Wealthion officially endorses. While Lance was away last week, Michael kindly stood in for him at our live Q&A event last week — we received so many positive comments from you viewers about the quality of his answers that I wanted to invite him on the program and give him the opportunity to share his full macro outlook.