Raphael Nam

The budget deficit in the last fiscal year was $1.8 trillion, the third highest on record.

The budget deficit in the last fiscal year was $1.8 trillion, the third highest on record.

Because they can essentially tell the government, we won't be lending you any more money. And that would put the government in a pinch. Now, if the interest of the U.S. pays on its bond surges, and it can also create a lot of pain to the country's finances. And these fears in bond markets can spread to other markets like stocks, finance.

Because they can essentially tell the government, we won't be lending you any more money. And that would put the government in a pinch. Now, if the interest of the U.S. pays on its bond surges, and it can also create a lot of pain to the country's finances. And these fears in bond markets can spread to other markets like stocks, finance.

Because they can essentially tell the government, we won't be lending you any more money. And that would put the government in a pinch. Now, if the interest of the U.S. pays on its bond surges, and it can also create a lot of pain to the country's finances. And these fears in bond markets can spread to other markets like stocks, finance.

Fear is pretty contagious after all, and it has happened before around the world. About two years ago in the United Kingdom, bond investors revolted. It helped create a financial storm, and it took down the prime minister in a matter of weeks. There's even a term for bond investors that wield their power this way, bond vigilantes. These investors could stop buying bonds.

Fear is pretty contagious after all, and it has happened before around the world. About two years ago in the United Kingdom, bond investors revolted. It helped create a financial storm, and it took down the prime minister in a matter of weeks. There's even a term for bond investors that wield their power this way, bond vigilantes. These investors could stop buying bonds.

Fear is pretty contagious after all, and it has happened before around the world. About two years ago in the United Kingdom, bond investors revolted. It helped create a financial storm, and it took down the prime minister in a matter of weeks. There's even a term for bond investors that wield their power this way, bond vigilantes. These investors could stop buying bonds.

It's effectively telling the government, like I was telling you, we're not going to lend you any more money unless you reconsider some of your policies. Now, the U.S. is obviously much bigger than the U.K., and we also don't know what Trump is actually going to do. But things could get rocky very quickly if he does all the things he's promised.

It's effectively telling the government, like I was telling you, we're not going to lend you any more money unless you reconsider some of your policies. Now, the U.S. is obviously much bigger than the U.K., and we also don't know what Trump is actually going to do. But things could get rocky very quickly if he does all the things he's promised.

It's effectively telling the government, like I was telling you, we're not going to lend you any more money unless you reconsider some of your policies. Now, the U.S. is obviously much bigger than the U.K., and we also don't know what Trump is actually going to do. But things could get rocky very quickly if he does all the things he's promised.

Yes, because the U.S. bond market influences all kinds of interest payments, from credit cards to auto loans to mortgages. So when there's pain in the bond market, it's not just the Trump administration that will feel the impact. It could be people like you and me.

Yes, because the U.S. bond market influences all kinds of interest payments, from credit cards to auto loans to mortgages. So when there's pain in the bond market, it's not just the Trump administration that will feel the impact. It could be people like you and me.

Yes, because the U.S. bond market influences all kinds of interest payments, from credit cards to auto loans to mortgages. So when there's pain in the bond market, it's not just the Trump administration that will feel the impact. It could be people like you and me.

Thank you.

Thank you.

Thank you.