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@CheddarFlow Debt growing 1.52x faster than GDP is a structural warning. Markets still assume endless borrowing, but that math breaks down if rates stay elevated. Expect pressure on long end yields and equity multiples as the fiscal bill comes due.

@CheddarFlow What Cheddar Flow said is too good. Since 2000 the US has borrowed $1.52 for every $1 of economic growth, with debt rising faster than GDP in 20 of the last 25 years. Follow for more sharp macro debt insights

@CheddarFlow Wild how we managed to turn "growth" into a subscription model. $1.52 borrowed for every extra dollar of GDP since 2000... efficiency at its finest

@CheddarFlow that ratio is brutal $1.52 in borrowing for every dollar of growth is just piling on weight without the momentum to carry it

@CheddarFlow Talk to Janet Yellen, she will tell you this is fine as long as the debt to gdp ratio is kept in check.