us debt

Sandwiched between a burger joint and an oyster bar in New York City hangs a daunting image: The National Debt Clock. And that debt number? It just keeps ticking up. How deep in the hole are we? Nearly a hundred percent of gross domestic product. And counting. Today on the show, the federal debt. Is it time to freak out? Or is there nothing to see here?

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The credit rating agency, Fitch, caused a stir yesterday when it downgraded the United States' credit rating from AAA to AA plus. This came less than a week since Federal Reserve staff stopped forecasting a recession on the horizon.

So what gives? Today, we talk to an economist to break down the reasons why Fitch no longer views the US as among the safest of bets.

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Episode 116: Neal and Toby discuss Fitch downgrading the US debt rating from AAA to AA+, citing how close Congress was to defaulting on the debt ceiling as well as the insurrection. The guys also go through their biggest takeaways from yesterday's earnings reports and get into how Uber is finally making money. Plus, which independent film has raked in more money than Mission Impossible and MrBeast is taking legal action against the company making his burgers. And finally the medical lawsuit that reached settlement after more than 70 years. Listen to Morning Brew Daily Here: https://link.chtbl.com/MBD Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow Learn more about your ad choices. Visit megaphone.fm/adchoices

Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) Trump Indicted on Federal Charges in 2020 Election Probe

2) US Stripped of AAA Rating by Fitch

3) AMD Gains After Chipmaker Tops Estimates 

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Episode 60: The prodigal son returns...Toby is back! Neal and Toby reunite to talk about the record-high consumer debt hurting Americans. Plus, this company wants to give you a free TV in exchange for constant ads. The question is: would you take the deal? Then, the IRS is testing out its own e-filing system. Finally, Martha Stewart gracing the cover of Sports Illustrated at 81 years old and Netflix's biggest flop to-date. Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbytheslice Listen Here: https://link.chtbl.com/MBD Watch Here: https://www.youtube.com/@MorningBrewDailyShow Learn more about your ad choices. Visit megaphone.fm/adchoices

House Speaker Kevin McCarthy said he would agree to raise federal government's borrowing limit in exchange for cuts to discretionary, non-defense spending and other changes to federal safety net programs — though he likely does not have enough support from his own party to actually pass the plan through his chamber.

The U.S. must raise its borrowing limit by early summer in order to avoid destabilizing the global economic system.

This episode: White House correspondent Tamara Keith, political correspondent Susan Davis, and congressional correspondent Deirdre Walsh.

The podcast is produced by Elena Moore and Casey Morell. It is edited by Eric McDaniel. Our executive producer is Muthoni Muturi.

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IN THIS EPISODE, YOU’LL LEARN: 01:22 - The numbers around federal interest expense and rising interest rates. 23:58 - Mike's thoughts on the broad money supply being the best way to measure inflation. 28:36 - A comparison between now and 2007. 34:51 - Explaining reverse repo in a simplified way. 47:23 - How do countries use reserve to defend a currency and does the countries size matter? 48:07 - Why currency spreads are making it hard to service dollar denominated debts. 54:47 - Is this time different? 58:25 - Is the 50% attack vector even worth worrying about? 01:03:03 - Mike Stroup's background. 01:04:18 - Mike and Preston share military pilot stories. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Mike Stroup's Twitter The charts from the show. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts.  SPONSORS Support our free podcast by supporting our sponsors: River Toyota Linkedin Marketing Solutions Fidelity Efani Shopify NDTCO Fundrise Wise NetSuite TurboTax Vacasa NerdWallet Babbel Learn more about your ad choices. Visit megaphone.fm/adchoices

IN THIS EPISODE, YOU’LL LEARN: 01:43 - What is a debt spiral and is the US currently experiencing one? 11:24 - Why are there so many additional treasuries beyond what was expected in the 3rd quarter 2022? 13:30 - What can the FED do from here? 18:52 - What is the Supplementary Leverage Ratio (SLR) and why's it important? 27:59 - Europe this winter - what's about to happen? 33:09 - Zombie Companies. 37:19 - What are institutional investors waiting for when it comes to Bitcoin? 55:09 - What's happening in Japan it seems like the treasury market is calmer than before? *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. James Lavish's Twitter. James Lavish's Newsletter. James Lavish's Non-profit. Related episode: Japanese Yield Curve Control, Oil, & Bitcoin Macro w/ James Lavish - BTC084. Related episode: Macro and Bitcoin Education w/ Greg Foss, James Lavish, Jason Sansone, & Sebastian Bunney - BTC080. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts.  SPONSORS Support our free podcast by supporting our sponsors: River Toyota Linkedin Marketing Solutions Fidelity Efani Shopify NDTCO Fundrise Wise NetSuite TurboTax Vacasa NerdWallet Babbel Learn more about your ad choices. Visit megaphone.fm/adchoices

Behind every Planet Money episode is a ton of reading. Today, we share some of our favorite books from along the way.

Here are our picks:

From Mary, American Bonds: How Credit Markets Shaped a Nation by Sarah L. Quinn

From Erika, The End of Globalization: Lessons from the Great Depression by Harold James

From Alexi, The Sixth Extinction: An Unnatural History by Elizabeth Kolbert

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In this episode -   This is the most disgusting political ad I’ve ever seen. http://www.washingtonexaminer.com/latino-group-smears-ed-gillespie-in-racist-ad/article/2639039   Our national debt problems are worse than feared. Here are the numbers. http://www.zerohedge.com/news/2017-10-30/us-government-quietly-added-200-billion-national-debt-month-alone   What you need to know about yesterday’s indictments. http://www.washingtonexaminer.com/what-we-learned-on-mueller-monday/article/2639053   How yesterday’s news about indictments actually benefits Trump. http://www.nationalreview.com/article/453264/donald-trump-george-papadopoulos-indictment-exculpatory-trump   Wait, they’re targeting Manfort for AirBnB violations now? https://www.bloomberg.com/news/articles/2017-10-31/for-manafort-questionable-airbnb-sublets-became-a-family-affair   This liberal Hollywood actor has a shocking message for anti-Trumpers. http://www.washingtonexaminer.com/bryan-cranston-f-k-anyone-who-hopes-trump-fails-as-president/article/2639059   Sponsor links: www.iTargetPro.com Promo Code “Dan” www.BrickHouseNutrition.com/Dan    Learn more about your ad choices. Visit podcastchoices.com/adchoices