One River Asset Management (which manages $2.5 billion in capital) expects a significant increase in the public debt of the United States. Right now it is $31.4 trillion, equivalent to 98% of GDP, and in seven years it will rise to $50 million, the company predicts. Then its growth will accelerate significantly and by 2053 it will reach almost 200%, 195% to be exact.

Contributing to this is the fact that both the cost of servicing the national debt and mandatory budget expenditures are rising at a rapid pace. The U.S. eventually passed a law to raise the debt ceiling again, but they pretend in vain that this step saved humanity from a crisis that would have been caused by their default, they say. When the national debt accelerates, the whole world will take notice, warns its chief financial officer, Eric Peters.

The document to raise the national debt limit above the current $31.4 trillion mark was signed by President Joe Biden on June 3.