In this episode of EYL, Rashad Bilal, Ian Dunlap, and Troy Millings dive into the recent news that the US Treasury will be borrowing a staggering $776 billion in the final three months of this year. This announcement comes on the heels of the government's projection of a $1.7 trillion budget deficit for fiscal year 2023. The hosts discuss the implications of this massive borrowing on the stock market and the overall economy.Ian Dunlap is not one to mince words, as he delivers a stark assessment of the situation. He expresses his concerns about the country's mounting debt and how it is negatively impacting our geopolitical standing. He believes that our aggressive approach has resulted in us being viewed as bullies in the eyes of the world. With the bond market in shambles and the small-cap market destroyed, Dunlap paints a bleak picture of the future.Troy Millings provides some context to help viewers better grasp the gravity of the situation. He explains the relationship between bond yields and prices, and how the treasury's issuance of more bonds can lead to higher yields. While some may argue that the borrowing came in lower than expected, Millings highlights the fact that the upcoming first quarter of 2024 will see an ask of over $816 billion, the largest in the history of America. The bond market is indeed in shambles.The hosts delve into the stock market's roller coaster ride, with mid-cap stocks taking a significant hit and only a handful of companies performing well. Dunlap laments the state of the economy and believes that the country is teetering on the edge. He also discusses the impact of high debt on various industries, including streaming and entertainment. The Spotify example serves as a reminder of how the economy's troubles trickle down to other sectors.In a shift towards discussing the need for diversity in political leadership, Bilal voices his belief that relying solely on old white men is unsustainable. He argues that without a diverse range of perspectives and understanding of what's happening on the ground, the entire political structure is at risk. He criticizes the lack of understanding and cultural divide at the top, particularly in regards to millennials and their access to credible news sources.As the conversation continues, the hosts highlight the disconnect between those in power and the changing tides of public opinion. They express their frustration with the repetitive propaganda and the unwillingness to adapt to new ideas. The Democratic Party, in particular, is predicted to face challenges if they do not address this divide and provide messaging that resonates with the younger generations.In this thought-provoking episode, EYL tackles pressing financial and political issues, shedding light on the challenges faced by the economy, the stock market, and the current political structure. Join Rashad Bilal, Ian Dunlap, and Troy Millings as they explore the impact of massive borrowing, the decline of the bond market, and the necessity of diversity and understanding in our political landscape. #EYL #USdebt #economy #stockmarket #diversityinpolitics #politicalstructure #financialchallenges #bondmarket #propaganda #millennials #leadership #crediblenews #geopoliticalimpact #budgetdeficitOur Sponsors:* Check out Kajabi and use my code EARN for a great deal: https://kajabi.com/* Check out Shopify and use my code leisure for a great deal: https://www.shopify.com/Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy