Philip Patrick
speaker
1,844 appearances
21 recordings
1 series
first heard Sep 2025
last heard 17 Sep
Philip Patrick’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 20 in all, peaking in Aug 2026 with 6.
Appearances
Yeah, it's uh it's getting out of control.
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And it's not just a United States problem.
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You mentioned uh global debt just surpassed three hundred and sixty-five trillion.
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It's ten trillion dollars added in the last six months alone.
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And as you mentioned, the big problem is the interest payments now.
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And what really caught my attention was advanced economies are now paying three point three trillion dollars in interest on international internationally traded.
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Government bonds last year alone.
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That is more than the entire world spent on defense or artificial intelligence.
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It's an astronomical amount of money.
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Now think about the problem that we're seeing with rising interest rates, right?
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Look at what happened yesterday in the bond market.
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The 10-year Treasury climbed back above 5%, which means Washington now faces higher borrowing costs.
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As existing debts start to mature.
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But again, it's not just a US problem.
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The same thing's happening in Britain, France, and Japan.
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It's developed economies all across the world.
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Governments now need to borrow more money, but investors are demanding higher interest rates to lend them the money.
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And for decades now, we've been borrowing cheap money funding economies around the world, thinking that rates were never gonna rise.
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That's now happening.
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At what is the worst time possible, as Western governments amass huge amounts of debt.
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