$31.4 trillion in debt currently….$1 trillion, 20% of tax revenue, will be going to pay interest on debt… 5% inflation is new standard in US

$31.4 trillion in debt currently.

It will be at $32 trillion instantly once they raise ceiling, to refill govt accounts.

$4.9 trillion govt tax revenue
$6.9 trillion govt spending

$1 trillion, 20% of tax revenue, will be going to pay interest on debt.

— Wall Street Mav (@WallStreetMav) April 26, 2023

*SUMMERS SAYS 5% INFLATION IS NEW STANDARD IN US

someone tell the Fed its new inflation target is 100% higher

— zerohedge (@zerohedge) April 26, 2023

We need serious reforms to reduce our deficits. I voted for the Limit, Save, Grow Act to put the brakes on reckless spending. If spending isn't cut now, inflation will continue to reduce real wages, devalue retirements, and imperil the dollar as the world’s currency.

— Thomas Massie (@RepThomasMassie) April 26, 2023

Source without paywall:https://t.co/48NWpTAdgQ

— Wall Street Mav (@WallStreetMav) April 26, 2023

JUST IN: Argentina will start to pay for Chinese imports in yuan rather than dollars

— unusual_whales (@unusual_whales) April 26, 2023

Chinese Yuan overtakes US dollar as most-used currency in China's cross-border transactions for the first time in history.

Yuan-share rose to a record high of 48%, UP from nearly zero in 2010. 

U.S-share declined to 47%, DOWN from 83% over the same period.

Wow. pic.twitter.com/Lm3Rygpm45

— Genevieve Roch-Decter, CFA (@GRDecter) April 26, 2023