logo
In debt-bloated US, stablecoin a new financial weapon in the making

In debt-bloated US, stablecoin a new financial weapon in the making

Imagine a 500lbs man. Eighty per cent body fat. His arteries are clogged, his heart is on the blink. A doctor tells him to do 100 burpees a day to save his life. It's not bad advice – burpees are great for losing weight – but let's be honest. The man can't even kneel, let alone jump. The method isn't wrong. It's just impossible.
That man is the US economy. And the debt – all US$36.65 trillion of it – is the fat.
Let's cut through the noise. Recent headlines have been about the supposed feud between Elon Musk and US President Donald Trump. Sure, the friction is real, and their political interests don't quite align any more. But the real story isn't personal. It's structural. It's about how the world's most powerful nation – obese with debt – is quietly looking for a cheat code.
It's not going to be austerity. Trump, with his
'big, beautiful' spending plans , has no interest in cutting back. Even if government departments miraculously shaved off a trillion dollars annually, that would barely cover the interest on the debt. Fiscal discipline isn't on the menu. The patient has no intention of dieting – he just wants a miracle drug.
And here's where things get interesting. The US government may be exploring a new financial weapon: the
stablecoin
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump open to meeting Putin and Zelensky after discussing it in call with Ukrainian leader
Trump open to meeting Putin and Zelensky after discussing it in call with Ukrainian leader

South China Morning Post

time16 minutes ago

  • South China Morning Post

Trump open to meeting Putin and Zelensky after discussing it in call with Ukrainian leader

US President Donald Trump is open to meeting with Russian counterpart Vladimir Putin and Ukraine's Volodymyr Zelensky, the White House said on Wednesday. The possibility was discussed in a call between Trump and Zelensky that, according to a senior Ukrainian source, also included Nato Secretary General Mark Rutte and the leaders of Britain, Germany and Finland, after Washington's envoy Steve Witkoff visited Moscow for talks earlier in the day. 'The Russians expressed their desire to meet with President Trump, and the president is open to meeting with both President Putin and President Zelensky,' White House Press Secretary Karoline Leavitt said. The New York Times reported that Trump intended to meet first with Putin, and then to follow that up with a three-way meeting involving the Russian and Ukrainian leaders. Nato and Ukrainian officials did not confirm the report when contacted by Agence France-Presse. Earlier on Wednesday, Trump hailed the meeting between his envoy and Putin as 'highly productive', but US officials said sanctions would still be imposed on Moscow's trading partners.

Trump puts extra 25% tariff on India, escalating Russian oil tensions
Trump puts extra 25% tariff on India, escalating Russian oil tensions

South China Morning Post

timean hour ago

  • South China Morning Post

Trump puts extra 25% tariff on India, escalating Russian oil tensions

US President Donald Trump on Wednesday ordered an additional 25 per cent tariff on Indian goods over New Delhi's continued purchase of Russian oil, a key revenue source for Moscow's war in Ukraine. The tariff, set to take effect in three weeks, comes on top of a separate 25 per cent duty entering into force on Thursday, according to the text of the executive order released by the White House. The order also threatens potential penalties on other countries deemed to be 'directly or indirectly importing Russian Federation oil'. Exemptions remain for items targeted by separate sector-specific duties such as steel and aluminium, and categories that could be hit like pharmaceuticals. Trump has been ramping up pressure on India after signalling fresh sanctions on Moscow if it did not make progress by Friday towards a peace deal with Kyiv, as Russia's devastating invasion of its pro-western neighbour drags on. 02:12 Trump to impose 25% tariff on India from August 1, plus 'penalty' for Russia ties Trump to impose 25% tariff on India from August 1, plus 'penalty' for Russia ties India's national security adviser was in Moscow on Wednesday, media in New Delhi reported, coinciding with a visit by US envoy Steve Witkoff.

How Trump's love for TV shapes US diplomacy
How Trump's love for TV shapes US diplomacy

South China Morning Post

time4 hours ago

  • South China Morning Post

How Trump's love for TV shapes US diplomacy

Donald Trump 's sudden concern about starving Palestinians was a major shift for the US president, who had previously ignored the endless cries for help from aid groups. So what changed? Advertisement In his words, it was images of emaciated children in Gaza that Trump saw on television – his main window into the world that has long shaped his political and diplomatic decision-making. Trump made clear his affection for the small screen in late July when asked if he agreed with Israeli Prime Minister Benjamin Netanyahu , a major US ally, that there was no famine in Gaza. 'Based on television, I would say not particularly, because those children look very hungry,' said Trump, a former reality TV star 'That's real starvation stuff. I see it, and you can't fake that.' Advertisement Since then, the 79-year-old has repeated that aid must be brought to people living in the war-ravaged Palestinian territory, though he has stopped short of any major diplomatic moves.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store