Former US Treasury Secretary Robert Rubin warns that a major US stock market crash is more likely to be triggered by soaring national debt than by AI sector overheating, citing historical precedents and Congressional Budget Office projections that US public debt will reach nearly 100% of GDP in 2025.
#YonhapInfomax #RobertRubin #USNationalDebt #StockMarketCrash #CongressionalBudgetOffice #GDPRatio #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=94003
Former US Treasury Secretary Says Stock Market Crash Would Be Driven by Debt, Not AI
Former US Treasury Secretary Robert Rubin warns that a major US stock market crash is more likely to be triggered by soaring national debt than by AI sector overheating, citing historical precedents and Congressional Budget Office projections that US public debt will reach nearly 100% of GDP in 2025.
President Lee Jae-myung emphasized the need to correct misconceptions about South Korea's self-defense capabilities, highlighting the nation's advanced defense industry and plans to boost defense spending to 3.5% of GDP, as global demand for Korean defense exports rises.
#YonhapInfomax #DefenseSpending #PresidentLee #KDefense #ExportGrowth #GDPRatio #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=92199South Korea’s 2026 budget proposal projects a fiscal deficit of 4% of GDP, scrapping previous fiscal rules, with national debt set to exceed 1,415 trillion won and spending rising sharply amid expansionary policy.
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Household Debt-to-GDP Ratio Falls to 90.1% at End of Last Year - 5 Consecutive Quarters of Decline
South Korea's household debt-to-GDP ratio falls to 90.1%, marking fifth consecutive quarterly decline amid record surplus funds growth
Government's Fiscal Deficit Exceeds 4% of GDP Amid 30 Trillion Won Tax Revenue Shortfall
South Korea's fiscal deficit surpasses 4% of GDP due to 30 trillion won tax shortfall, challenging government's fiscal rule and limiting supplementary budget resources
South Korea's managed fiscal balance deficit hit 104.8 trillion won in 2023, exceeding 4% of GDP and missing the government's 3% target, amid tax revenue shortfalls and increased welfare spending.
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Last Year's Fiscal Deficit Reaches 104 Trillion Won, 4.1% of GDP - '3% or Less' Target Missed Again
South Korea's managed fiscal balance deficit hit 104.8 trillion won in 2023, exceeding 4% of GDP and missing the government's 3% target, amid tax revenue shortfalls and increased welfare spending.
US Current Account Deficit Narrows to $303.9 Billion in Q4
U.S. current account deficit narrows to $303.9 billion in Q4 2023, below market expectations, with GDP ratio slightly decreasing to 4.1%
In the third quarter of 2023, Greece had the highest public debt-to-GDP ratio among EU member states with 165.5%.
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