by Wolf Richter
Someone had to buy the Incredibly Spiking US Gross National Debt. Here’s who.
Remember the ridiculous and quaint charade around the “Debt Ceiling” in Congress and the White House? Me neither. But those were the Good Times. So what we now have is the Pandemic Economy with the Incredibly Spiking US Gross National Debt, which spiked incredibly by $4.45 trillion over the past 12 months, to $26.5 trillion. WHOOSH go the trillions, flying by.
But here is the thing: These are all Treasury Securities – and someone had to buy them, every single one of them. But who?