Now openly involved in politics, Elon Musk largely pushed for the election of Donald Trump (even to the point of being able to obtain an advisory position). But the latter, who refuses to see himself as a politician, remains a businessman, with a very sharp vision of the current economic situation.
And according to him, the American financial situation is simply catastrophic. He even speaks of an imminent emergency. His fears? The astronomical levels of American debt, which now reaches more than 35,000 billion dollars. A debt with unsustainable growth, as he himself explained. A situation which is, however, nothing new.
Musk fears US debt
Indeed, for months, even years, economists have been calling on the American executive to try to stem the growth of the debt, which continues to grow. The measures taken during the COVID-19 health crisis and the various confinements will have cost much more than expected, causing inflation to explode. The American FED then had to adapt and also increase its interest rates for borrowing.
But how can we remedy this debt? The next American president, Donald Trump, is currently exploring several avenues. Some departments, judged to spend too much for too little results, could be forced to close their doors. Additionally, the next administration may be tempted to restructure what it calls “the deep state” and the people who work for it.
Bitcoin, saving?
Another avenue studied by the next president and his team is none other than… Cryptocurrency. Indeed, Trump has announced on one or two occasions that he wants to create a strategic national reserve of Bitcoin ($BTC) to counter inflation, generate new revenue for the American economy and become the undisputed international leader in terms of cryptocurrencies.
Business
