The bottom line is that the nation has been living beyond its means for decades. Early on, the citizens actually benefited, because it was other nations that footed the bill by buying US debt. What they got was a higher standard of living than the output and revenue of the nation really entitled them to. (Although I am sure no one told them it was borrowed money.) But now the debt has become obviously toxic after the Global financial crisis and the Fed has had to increasingly rely on a few loyal allies, plus Americas own banks, financial institutions and pension funds to pick up the treasury bonds that the world now see as risky.. The numbers say that these other nations are right to be concerned. The numbers say the $US is overvalued now and that value is falling..And there isnt a lot the Fed can do beyond printing more money and messing with interest rates. Lowering them as Trump wants means more inflation. Raising them as conventional wisdom demands means recession on top of recession. And in 20 to forty years when those long term investments and employee pensions come to pay off, the million dollar balances wont buy ten years of living expenses..
And I dont see a way out of this for most Americans..😷