The U.S. economy added more job openings in January 2024 with over 335,000 job openings. The robust U.S. economy led to declines in gold, silver and broader commodity markets this week. Gold prices remain in the red and could fall below $2,030 as the US economy grows stronger. The US Dollar Index (DXY) climbed above the 104 mark and the currency is recovering on the charts.
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But despite recent positive growth, billionaire investor Paul Tudor Jones isn't convinced the U.S. economy is doing well. The billionaire said in the last interview that the US economy is growing because it is kept alive by steroids. The latest performance is a smoke show that tricks Americans into thinking the U.S. economy is doing well, he said.
Read here to learn how many sectors in the U.S. will be affected if the economy tanks. The development could lead to massive job cuts and trigger hyperinflation across the American homeland.
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US economy is on steroids, says billionaire Jones
Source: ommcomnews.com
Jones highlighted the rapid increase in government borrowing and spending that is driving recent growth. He explained that the phenomenon will eventually hit the economy and the “boom bubble” could soon burst. He also stressed that growth was not sustainable and large deficit spending would soon be felt in the markets.
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The US economy is “on steroids” he said during an interview with CNBC. “We are driving up consumption like crazy. It should be a huge success because our economy is on steroids and that is not sustainable.”
The billionaire also called the $34 trillion debt a tick “Debt bomb” that could lead to this “fiscal recklessness”. When asked when he thinks the market's mask might come off, he replied: “It could be this year, it could be next year.”
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