US National Debt Soars Past $34 Trillion: Gold Bull Peter Schiff Warns Of Crisis Before Year End, Analyst Raises Alarm Over Social Programs
Portfolio Pulse from Shanthi Rexaline
The U.S. national debt has surpassed $34 trillion, with concerns about its impact on economic growth, government spending, and financial markets. Economists warn of potential crises, and Morgan Stanley's Lisa Shalett recommends shifting to real assets like gold. The SPDR Gold Shares (GLD) rose about 13% in 2023, while the SPDR S&P 500 ETF Trust (SPY) fell 0.56% in a recent session.
January 03, 2024 | 8:48 am
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POSITIVE IMPACT
The SPDR Gold Shares (GLD) ETF has risen about 13% in 2023, reflecting investor concerns over the U.S. national debt and a shift towards real assets.
The rise in GLD is likely due to its status as a safe-haven asset amidst economic uncertainty caused by the soaring national debt. The recommendation by Morgan Stanley to shift to real assets like gold further supports the positive trend for GLD.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) experienced a slight decline of 0.56% in a recent session, potentially due to concerns over the U.S. national debt's impact on economic growth and financial markets.
The decline in SPY may be attributed to investor apprehension regarding the U.S. national debt's potential to hinder economic growth and increase borrowing costs, which could negatively affect the stock market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70