Bridgewater Associates founder Ray Dalio is warning of severe economic and financial consequences after US President Trump’s budget bill passed Congress. In a post on the social media platform X, the billionaire says that Trump’s “One Big Beautiful Bill” will increase the US national debt from about $230,000 per American household to $425,000 per American household over the next decade. The ballooning national debt will have severe ramifications, according to Dalio. “Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt, which is now about 6x of the money taken in, 100% of GDP, and about $230,000 per American family, will rise over ten years to about 7.5x the money taken in, 130% of GDP and $425,000 per family. That will increase interest and principal payments on the debt from about $10 trillion ($1 trillion in interest, $9 trillion in principal) to about $18 trillion (of which $2 trillion is interest payments), which will lead to either a big squeezing out (and cutting off) of spending and/or unimaginable tax increases, or a lot of printing and devaluing of money and pushing interest rates to unattractively low levels.” Dalio believes the remedy to the looming fiscal crises is to cut spending and raise taxes to lower the annual deficit to gross domestic product (GDP) ratio. “This printing and devaluing is not good for those holding bonds as a storehold of wealth, and what’s bad for bonds and US credit markets is bad for everyone because the US Treasury market is the backbone of all capital markets, which are the backbones of our economic and social conditions. Unless this path is soon rectified to bring the budget deficit from roughly 7% of GDP to about 3% by making adjustments to spending, taxes, and interest rates, big, painful disruptions will likely occur.” Follow us on X, Facebook and Telegram
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&nbsp Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Billionaire Ray Dalio Warns ‘Painful Disruptions’ Incoming as US National Debt Set To Shatter $425,000 per Household appeared first on The Daily Hodl.

The chief global strategist of financial services giant JPMorgan says that the White House’s growth projections for the US economy are unfeasible. In a new interview with CNBC Television, JPMorgan executive David Kelly says that the White House’s 3% projected growth for the economy doesn’t make sense as the US doesn’t have the means to boost productivity to match. According to Kelly, baby boomers retiring and shrinking employment numbers will impact the growth of the US economy. However, though he says 3% is untenable, he does envision the economy growing in part. “I don’t see how we’ll do that. In order to do that, you’ve got to boost productivity, because if you look at the US economic growth, in the long run, so far this century, it’s been about 2%. That’s 1.5% from productivity and 0.5% from the growth in labor. The problem is that the baby boomers are retiring, the nation-born working age population is shrinking, so if you end up with zero net immigration, you got no employment growth and that means [you grow] 1.5%, not 3%. Now we might do better than 1.5%, but we’re not close to 3%. There’s nothing in the outlook which tells me that we can sustain 3% growth.” The White House’s projection for the growth of the US economy is related to President Donald Trump’s latest spending bill, which included extensions on tax breaks and is currently being voted on in Congress.   Follow us on X, Facebook and Telegram
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&nbsp Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post ‘I Don’t See How We’ll Do That’: JPMorgan’s Chief Global Strategist Says White House’s 3% US Economic Growth Projection Unsustainable appeared first on The Daily Hodl.

The U.S. House is declaring the week of July 14th as “Crypto Week,” as three major crypto-related acts will be considered by Congress. According to a new announcement from the U.S. House Committee on Financial Services, the CLARITY Act, the Anti-CBDC Surveillance State Act and the Senate’s GENIUS Act will all be considered by Congress during Crypto Week. Says U.S. House Committee on Financial Services Chairman French Hill, “We are taking historic steps to ensure the United States remains the world’s leader in innovation and I look forward to ‘Crypto Week’ in the House. After years of dedicated work in Congress on digital assets, we are advancing landmark legislation to establish a clear regulatory framework for digital assets that safeguards consumers and investors, provides rules for the issuance and operation of dollar-backed payment stablecoins, and permanently blocks the creation of a Central Bank Digital Currency (CBDC) to safeguard Americans’ financial privacy. I thank my colleagues in Congress and the Trump Administration for their partnership and leadership and stand ready to work alongside the Senate as they work to advance standalone market structure legislation by the end of September.” Added Speaker of the House Mike Johnson, “House Republicans are taking decisive steps to deliver the full scope of President Trump’s digital assets and cryptocurrency agenda. During ‘Crypto Week,’ the House looks forward to the timely consideration of three landmark pieces of legislation: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act. I commend the close partnership between the Financial Services and Agriculture Committees and the leadership of Chairmen French Hill and GT Thompson, and I look forward to President Trump signing them into law.” Follow us on X, Facebook and Telegram
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&nbsp Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post House Committee on Financial Services Declares Week of July 14th As ‘Crypto Week’ appeared first on The Daily Hodl.

A widely followed cryptocurrency analyst is issuing an alert, warning traders that altcoins appear poised to continue declining against Bitcoin (BTC). In a new thread, crypto trader Benjamin Cowen tells his 1 million followers on the social media platform X that US monetary policy will remain tight, suggesting that altcoin pairs versus the top crypto asset by market cap are heading to their range lows. “With the economy holding strong, it delays rate cuts and likely delays the end to QT [quantitative tightening]. This suggests that monetary policy will remain restrictive, continuing to support the idea that altcoin/BTC pairs are likely still heading to the range lows.” Source: Benjamin Cowen/X According to Cohen, during the last two summers, altcoin pairs versus BTC would rally before dipping during Q4, a move he believes could happen again. “The last 2 summers ALT/BTC pairs found some brief relief before heading lower into Q4. The larger bounce by ALT/BTC pairs over the last few years did not occur until November.” Source: Benjamin Cowen/X TOTAL3, or the entire market cap of all crypto assets excluding Bitcoin and Ethereum (ETH), is sitting at $827.5 billion at time of writing, a 2.3% decrease on the day. Cowen concludes his analysis by telling traders not to confuse ALT/BTC pairs with USD/BTC pairs, which behave in different ways. “Does anyone understand the difference between ALT/BTC and ALT/USD or are people just going to keep pretending they are the same thing? This is the difference between ALT/USD and ALT/BTC pairs. ALTs keep bleeding to BTC but have gone up on their USD pairs. Something something Bitcoin Dominance.” Source: Benjamin Cowen/X Follow us on X, Facebook and Telegram
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&nbsp Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Crypto Analyst Benjamin Cowen Issues Altcoin Alert, Says Alts Primed To Keep Going Lower Against Bitcoin – Here’s Why appeared first on The Daily Hodl.

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has just added the bulletproof hosting (BPH) services provider Aeza Group to its Specially Designated Nationals (SDN) list, a roster of individuals and organizations that pose threats to U.S. national security. BPH service providers sell access to internet infrastructures that enable cybercriminals, including ransomware actors, personal information stealers and illegal drug vendors, to evade detection and disruption of their malicious activities. In a statement, the OFAC says that the US is sanctioning the Russia-based web hosting company for its role in supporting cybercrimes that target victims in the US and around the world. The agency says the Aeza Group provided BPH services to ransomware and malware groups such as the Meduza and Lumma infostealer operators that targeted U.S. defense industrial base and technology companies. The Aeza Group also hosted the BianLian ransomware, RedLine infostealer panels and BlackSprut, a Russian darknet marketplace for drugs. Says Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley T. Smith, “Cybercriminals continue to rely heavily on BPH service providers like Aeza Group to facilitate disruptive ransomware attacks, steal US technology, and sell black-market drugs.” The OFAC also sanctions affiliated companies, including the UK front Aeza International, along with CEO Arsenii Aleksandrovich Penzev, general director Yurii Meruzhanovich Bozoyan, technical director Vladimir Vyacheslavovich Gast and co-owner Igor Anatolyevich Knyazev. The designation prohibits US transactions involving the properties and interests of the sanctioned groups and individuals. Follow us on X, Facebook and Telegram
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&nbsp Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post U.S. Treasury Sanctions Russian Crypto Wallet Linked to Ransomware Operations appeared first on The Daily Hodl.