US national debt hits record $37 trillion
The U.S. national debt has exceeded $37 trillion for the first time in history, reaching $37.004 trillion on Tuesday—just eight months after hitting $36 trillion and barely over a year since surpassing $35 trillion. Debt held by the public is projected to reach 99% of GDP this year, with interest costs alone expected to top $1 trillion annually. Fiscal experts warn that the situation is “unsustainable,” with the debt now larger than the combined economies of the Eurozone and China. While some call for immediate budget reforms to avoid a fiscal crisis, critics say Congress continues to worsen the imbalance. Read More.
BRICS Countries List Expands in Global Shift, 32 More Waiting to Join
BRICS has expanded from its five founding members to eleven full members—including Saudi Arabia, Indonesia, Egypt, Ethiopia, Iran, and the UAE—while attracting interest from 32 more nations, 23 of which have applied for membership. The bloc now represents over 25% of global GDP and nearly half the world’s population, offering alternatives to Western financial systems through the New Development Bank and local currency trade. While the July 2025 Rio summit focused on expansion criteria and South-South cooperation, internal divisions persist over the pace of growth, and Western nations, particularly the U.S., are pushing back with threats of tariffs. Analysts see the expansion as a major step toward multipolar governance, giving developing nations more independence from dollar dominance. Read More.
Inflation or recession? Either way, Trump’s tariffs will leave lasting scars.
Trump’s ongoing tariffs have created economic uncertainty that could fuel inflation or trigger a recession, while keeping interest rates high and making the $37 trillion national debt more expensive to service. Tariffs act as a tax on imports, often passed on to consumers as higher prices, reducing spending and slowing economic growth. With significant reliance on imported goods, domestic supply shortages, and declining tourism, the broader economy—including city tax revenues—is likely to suffer. Although tariffs boost short-term federal revenue and attract some foreign investment, they risk damaging international relations and long-term economic stability. Read More.
A record $100 billion in 4-week T-bills are up for auction. We asked money pros: Should you buy?
The Treasury Department is auctioning a record $100 billion in 4-week T-bills, up $5 billion from last week, likely to secure funding ahead of expected Fed rate cuts in September and November. While these ultra-short-term bonds offer low risk and yields over 4%, experts say they are generally better suited for institutions or high-net-worth individuals needing temporary, secure parking for cash. For most investors, alternatives like money market accounts, CDs, or Treasury funds may offer similar or better returns with more flexibility, while stocks offer higher long-term growth potential.Read More.
‘Rich Dad Poor Dad’ author issues blunt warning on 401(k) and IRA
Robert Kiyosaki, author of Rich Dad Poor Dad, warns of an impending U.S. economic crash similar to 2009, urging investors to shift from stock-heavy 401(k)s and IRAs into assets like gold, silver, Bitcoin, and cash — a move echoed by figures like Warren Buffett and Jim Rogers — as he predicts traditional markets are unsustainable and alternative investments may safeguard retirement savings. Read More.
