Politicology In Debt We Trust—The Weekly
Jun 13, 2025
Izabella Kaminska, founder of The Blind Spot and senior finance editor at Politico Europe, dives into the implications of Trump’s One Big Beautiful Bill. She dissects the national debt’s impact on global narratives, and warns of an impending financial crisis. The discussion touches on the changing trust in financial systems, traditional investments losing their appeal, and the rise of Bitcoin. Izabella also connects lessons from historical economic challenges to today’s financial landscape, offering insights into the complexities of managing national debt.
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Debt Understanding Through History
- Trust and agency are vital; people want a stake in systems, not handouts.
- Understanding debt through historical economic analogies helps grasp its real-world impact.
Debt Crisis and Bond Market Warnings
- The U.S. debt crisis is worsened by trust erosion in treasury bonds, causing rising interest rates.
- Bond market instability signals potential financial crisis looming soon.
JP Morgan's Market Liquidity Role
- JP Morgan hoards liquidity daily, becoming a de facto center of U.S. financial system trust.
- This structural dominance gives J.P. Morgan immense power over market stability.