U.S. debt approaches 40 trillion, Bank of America’s Hartnett: Going long on gold is the best solution right now
U.S. national debt is approaching the $40 trillion mark. Bank of America’s Hartnett believes that "going long on gold" is the optimal solution at present—gold is the best hedge against dollar depreciation, bond collapse, and political risk. Meanwhile, the AI financing frenzy has driven corporate bond supply to surge by 61% year-on-year, structurally squeezing out buyers of government bonds, with debt interest expenses reaching $1.4 trillion. Hartnett warns that the results of the November elections will be the biggest variable determining the market direction at the end of the year.
