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While Commercial RE and CMBS are certainly a huge problem for the banks, the exponentially growing sovereign debt here in the land of Good and Pllenty is the elephant in the room.  Testing the hypothesis "Debt doesn't matter", how long will the trick of piling on more debt to pay old debt keep working?  Not to mention of course, who besides Da Fed (directly, this is illegal) is out there to buy all this debt?  You think the Chinese want any more of this trash?  Belgium with backdoor funding from Da Fed?

Of course, DEFAULTING on the debt is out of the question, even just defaults by pipsqueak countries like Greece and Argentina gives banks the heebee jeebees.  So how does it end?  One of these days we'll find out, just hope I am still above ground when it comes.  Should be something to behold.

MARKETS.BUSINESSINSIDER.COM • 2023-07-12

The debt crisis Ray Dalio warned of may already be happening as US borrowings surge by $1 trillion in just weeks

Just last month, billionaire investor Ray Dalio warned the US is at the start of a debt crisis – and that may already be coming true.

The debt crisis Ray Dalio warned of may already be happening as US borrowings surge by $1 trillion in just weeks

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AXIOS.COM • 2026-08-21

America's capital crunch: Soaring debt collides with AI spending spree

The next president will inherit a fiscal reckoning decades in the making. The price it exacts on taxes, benefits, borrowing and investment could shape America's prosperity and power for generations.

Do you ever wonder WTF all the money comes from to loan out to Da Goobermint and the Tech Bros?  You think "investors" have $TRILLIONS$ sitting in their checking accounts to loan out?  Of course not. THEY borrow the money to loan out!  lol.  It's a big circle jerk of TBTF Banks, Sovereign States, Corporations and Hedge Funds all borrowing from each other, and each time a new loan is issued out it becomes the collateral for new money to be printed.

Unfortunately, the money to pay the Interest does NOT get printed up in this circle jerk, and at some point somebodies can't afford to pay the interest and all the expenses they borrow to pay.  As long as the loans keep being issued though, the musical chair game goes on.  It should be obvious to all this pile of debt can never be repaid, but they can't stop the music or the pahhty is OVAH.  Shouldda happened ages ago.  Will it happen under the next POTUS?  WTF knows.

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