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International · 43 mins ago
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How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system
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← Left ⚠ Misleading headline
The article examines how U.S. debt reaching 100% of GDP for the first time since WWII is creating economic pressures, particularly regarding foreign holders of American assets, with implications for the petrodollar system.
How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system
For the first time since the Second World War, excluding the COVID-19 pandemic, public debt in the United States has surpassed the entire economy’s GDP. As of late March, debt held by the public reached US$31.27 trillion, just ahead of the GDP of US$31.22 trillion.
This threshold is often treated as a long-term fiscal issue, but the economic costs of this debt are now moving to the forefront. The most immediate pressure comes from the possibility that major foreign holders of American assets beg
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