Jim Rickards – X, Released on 10/21/24

Treasury figures for fiscal 2024 just released:
Interest on debt: $882 billion
National defense: $874 billion
That's all folks. You can't borrow your way out of a debt crisis. You can't fund defense with deficits when interest payments cost more than defense. It's a doom loop. pic.twitter.com/IlXT7umi1q

— Jim Rickards (@JamesGRickards) October 21, 2024

Jim Rickards is a lawyer, investment banker and economist with over thirty years’ experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis and The Death of Money. His latest book is Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability Will Sink the Global Economy.