The Overton Window is a concept in political science and sociology that refers to the range of policies or ideas considered acceptable in public discourse at a given time. Like most things in life, I learned about it rather late.

“We’re going to be changing the name of the Gulf of Mexico to the Gulf of America, which has a beautiful ring that covers a lot of territory, the Gulf of America. What a beautiful name,” Trump said at Mar-a-Lago, prying the window open so wide that nearly anything seems possible, plausible, probable.

Say such things enough times, amplify the words using our AI-enabled social media machines, and presto, nothing’s shocking. But not only that, AI will soon converge with quantum computing.

“The Willow processor performed a computation in under five minutes that would take one of today’s fastest supercomputers 10 septillion years. It lends credence to the notion that quantum computation occurs in many parallel universes, in line with the idea that we live in a multiverse,” wrote Google, presenting its latest breakthrough, cracking our perception of reality.

As the window widens fully, not only is nothing impossible, but almost anything can seem reasonable. The right and left tails of every distribution lengthen and fatten. And we are left unanchored, adrift, in an endless sea of wild possibility, volatility.

“I’m going to give you a report on drones about one day into the administration, because I think it’s ridiculous that they’re not telling you about what’s going on with the drones,” pledged the President-Elect.

Windows

John Overton posited that ideas travel through stages, moving from being seen as extreme or unthinkable to becoming widely accepted and adopted as policy. Democracy was once considered unthinkable. Universal suffrage too. Emancipation. Most things that matter have traveled this path. Here are Overton’s six stages:

• Unthinkable – outside of acceptable thought.
• Radical – at the edge of discussion.
• Acceptable – starting to gain traction.
• Sensible – reasonable and widely discussed.
• Popular – widely supported.
• Policy – acted upon and implemented.

Overton introduced this framework to describe how the feasibility of a policy idea depends not on its inherent merits but on whether it falls within the range of public acceptance. He argued that public policy is constrained by this “window” of acceptable ideas and politicians tend to stay within the window to maintain public support. But what was yesterday’s unthinkable can become tomorrow’s policy as the window widens, shifts left, or right. And what moves the window is naturally tied into one of life’s great mysteries, the superorganism we call humanity.

Overton’s framework helps us make sense of society, markets too, risks, opportunities. I try to look at emerging investment themes through this lens. With each move of the window, power structures shift, capital flows adjust, new winners emerge, incumbents struggle or fail. The nimble survive, thrive. With such stakes, those with influence are desperate to guide the process. Politicians, propagandists, business leaders, religious leaders, union bosses, authors, artists, athletes, advocacy groups, lobbyists, social media influencers, and now AI.

There was a time, not so long ago when it was radical or even unthinkable to call network news fake. No longer. And now we openly joke about Canada becoming our 51st state. Where that leads is anyone’s guess, but the window has widened. Greenland’s Prime Minister announced today that he’s ready to speak with Trump. I started trading in 1989 and never in that time has the Overton Window shifted this rapidly across so many dimensions. There’s no precedent for it in modern history. And this dynamic is becoming a new market fundamental.

But it’s not just Trump. Javier Millei has thrown open an anti-statist libertarian window that had been nailed shut for as long as I’ve been alive. Argentina had the best performing stock market in the world last year. This is breathtaking change. And in roughly two short years, we went from the FTX apocalypse to serious talk of strategic sovereign Bitcoin reserves.

That window is wide open. Intertwined with both Milei and Bitcoin is radical talk of sovereign insolvency throughout the western world. Before it’s over, make no mistake, we’ll be talking about massive entitlement cuts. But for today, that idea is stuck in the unthinkable stage.

PRESIDENT TRUMP: "The small 4,000 person town of Charleroi, Pennsylvania has experienced a 2,000% increase in the population of Haitian migrants under Kamala Harris — the schools are scrambling to hire translators for the influx of students who don’t speak English, costing local… pic.twitter.com/jvlP19ANL0

— Trump War Room (@TrumpWarRoom) September 12, 2024

Local media outlet Pennsylvania Record reports the lawyer of Andrew Armbruster, a resident of Charleroi, filed Pennsylvania’s new anti-SLAPP law, a measure that gives defendants, in some instances, the opportunity to evade litigation. This is regarding a defamation lawsuit filed against Armbruster by the Charleroi business Fourth Street Foods

“SLAPP stands for strategic lawsuits against public participation, and anti-SLAPP laws give defendants a First Amendment argument,” Pennsylvania Record’s John O’Brien wrote.

The motion stated that Fourth Street Foods owner David Barbe filed the lawsuit against Armbruster primarily to suppress protected public expression.

“Armbruster’s rights to speak to public issues, community members, and prevailing wages without ever being accused of mentioning ‘Dave Barbe’ are an incredible encroachment on everyone in Charleroi’s right to free expression on public matters,” the motion said.

The motion continued, “Not only are they chilled from speaking about Mr. Barbe, by this lawsuit they are chilled from mentioning the hiring practices of a local employer.”

Readers might recall in September. We had the first boots on the ground in the small town outside Pittsburgh – down the street from Nemacolin, investigating staffing companies that were feeding Haitians like cattle into local factories.

• Watch: Resident Of PA Manufacturing Town Exposes Reality Of Haitian ‘Great Job Replacement’

Wow.

Charleroi, PA resident who worked for an agency which was importing migrants for cheap labor says “they didn't want no Americans, cuz they would have had to pay more."

There’s some deep corruption going on in Charleroi. This should be a bigger story. pic.twitter.com/W38Cw2FcpT

— Libs of TikTok (@libsoftiktok) September 20, 2024

Libs of TikTok covered our on-the-ground reporting.

Incredible footage revealing an operation in Charleroi, PA where Haitians are being bussed to and from food factories operated by Fourth Street Foods.

It’s estimated that 90% of workers are now made up of Haitians.

Kamala imported 2,000 Haitians into this town of 4,000 people… pic.twitter.com/6KrjecNdmh

— Libs of TikTok (@libsoftiktok) September 17, 2024

And this.

This is a bombshell report on Charleroi, PA from @realchrisrufo.

We went to Charleroi last month. The town has a population of 4,000. But it's been overwhelmed by thousands of Haitian immigrants.

Our documentary drops on Thursday. Watch the trailer here:https://t.co/YVCwHyeJBS pic.twitter.com/3QIXNFIksp

— America 2100 (@America_2100) October 8, 2024

Pennsylvania Record noted, “After Barbe sued Armbruster, Armbruster reiterated his claims in the Charleroi Rambler and said he was organizing a class action lawsuit on behalf of the citizens and workers of the town.”

Armbruster posted on Facebook:

I have taken it upon myself to say enough and to fight back.  I am organizing a Class Action Lawsuit against Fourth Street Foods and its ownership on behalf of the citizens and workers of Charleroi.  I wrote a draft of the lawsuit and printed petitions for residents to register as claimants.  I have collected several hundred participants in a few short days, and the reception to the lawsuit has been exceedingly positive. My goal is to make Americans aware that we don’t have to accept being Displaced & Replaced by the open border policy of the current federal administration.  We can and will FIGHT BACK! DM me for additional details or to join the Class Action Lawsuit.

Charleroi residents are furious…

This trucker is from Charleroi, a small PA town flooded with Haitians by Kamala

His message at the Trump rally: pic.twitter.com/aXe8TwvPeB

— End Wokeness (@EndWokeness) September 23, 2024

Armbruster’s planned class-action lawsuit could be one of the first instances in which small towns across America fight back in the court system against those responsible for globalist open-border policies that flooded their towns with migrants and led to the ‘Great Job Replacement‘ of blue-collar workers.

How is this not the biggest political talking point right now: since October 2019, native-born US workers have lost 1.4 million jobs; over the same period foreign-born workers have gained 3 million jobs. pic.twitter.com/Z5HVWmQ24C

— zerohedge (@zerohedge) January 15, 2024

For the politicians and companies that still can’t read the room after the presidential election: “America First.” Let’s remind you that a majority of Americans gave Trump a mandate to prioritize taxpaying citizens first—not third-world migrants.

“The facts here compellingly established fiduciary misconduct in the form of conflicts of interest and the failure to loyally act solely in the Plan’s best financial interests,” wrote US District Judge Reed O’Connor in a ruling that followed a four-day bench trial in June 2024. That duty of loyalty is imposed by the Employee Retirement Income Security Act (ERISA).

The ruling is certain to set off alarms in general counsel offices and boardrooms across America. For starters, 401(k) plans at 60% of Fortune 100 employers contain BlackRock investments, and BlackRock manages a huge chunk of the federal government’s Thrift Savings Plan. Of course, BlackRock isn’t the only asset manager whose ESG problem could become an employer’s problem.

Notably, the American Airlines plan didn’t offer any explicitly-ESG investment options. The issue was BlackRock’s intrinsically ESG-oriented management of all its funds. “This is not about ESG funds at all,” Josh Lichtenstein of law firm Ropes & Gray told the Financial Times. “This, to me, looks like the same claim could be brought against literally any 401k plan in America.”

With former pilot Bryan Spence as lead plaintiff of upwards of 100,000 participants, the class action suit accused American Airlines and its employee benefits committee of choosing investment managers that “pursue leftist political agendas” — sacrificing investment returns in favor of woke environmental, social and governance (ESG) goals like promoting workplace diversity or decreasing the use of fossil fuels.

While BlackRock wasn’t a defendant, the $11.5 trillion behemoth was nonetheless front and center in the case. To make the case that BlackRock’s priorities were warped, O’Connor quoted liberally from CEO Larry Fink himself, including his 2018 threat that companies must “contribute to society . . . or risk losing the support of the world’s largest asset manager.”

“BlackRock’s ESG influence is evident throughout administration of the Plan,” wrote O’Connor, a George W. Bush appointee, who credited claims that ESG takes a steep toll on returns: “By focusing on non-pecuniary interests, ESG investments often underperform traditional investments by approximately 10%.”

Given its enormous size, BlackRock also has the power to reduce the profitability of the companies it holds shares in — by voting its shares in ways that are detrimental to the bottom line. Among several examples, the plaintiffs pointed to Blackrock’s infamous 2021 ExxonMobil proxy vote — in which the firm helped secure two board seats for activist investor “Engine No. 1,” with the goal of pressuring the fossil fuel company to reduce its emphasis on fossil fuels and to commit to fighting “climate change.” At the time, BlackRock was ExxonMobil’s second-largest shareholder.

Characterizing American’s relationship with BlackRock as “incestuous,” O’Connor noted that BlackRock is simultaneously the largest investment manager of American’s 401(k) plan, one of American’s largest shareholders, and financier of $400 million of the company’s debt: “It is no wonder Defendants repeatedly attempted to signal alignment with BlackRock.” Further making the case that American’s disloyalty to its employees may have been driven by BlackRock’s “outsized influence,” he wrote, “As a large company [that] consumes copious amount of fossil fuels, American was potentially susceptible to a proxy fight of its own by failing to comply with BlackRock’s climate-related demands.”

Here are a few more notable quotes from O’Connor’s 70-page ruling:

• “A pursuit of non-pecuniary interests, in whole or in part, was an end itself rather than as a means to some financial end…The evidence made clear that BlackRock wanted to play its part in combating perceived social ills by bolstering DEI and climate change initiatives.”
• “The belief that ESG considerations confer a license to ignore pecuniary benefits is mistaken. ERISA does not permit a fiduciary to pursue a non-pecuniary interest no matter how noble it might view the aim.”
• Despite widespread coverage of the ESG controversy, “Defendants utterly failed to loyally investigate BlackRock’s ESG investment activities.”
• “Plaintiff proved by a preponderance of the evidence that American disloyally acted with an intent to benefit a party other than Plan participants and in a manner that was not wholly focused on the best financial benefit to the Plan.”

A ruling on damages or another form of relief will come later. Though he ruled that American breached its duty of loyalty to plan participants, O’Connor concluded American did not breach the duty of prudence — because prudence is judged by prevailing industry standards, and the asset management industry is, for now, regrettably dominated by ESG-minded firms.

In December, O’Connor fired a shot at a different strain of wokeness. He tossed out a plea deal between the Justice Department and Boeing — because the Biden administration included a requirement that diversity should be a consideration in selecting a compliance monitor. “In a case of this magnitude, it is in the utmost interest of justice that the public is confident this monitor selection is done based solely on competency,” wrote O’Connor, whose court is in Fort Worth.

As evidenced by recent ZeroHedge headlines, the welcome ruling against ESG’s malign influence on workers’ wealth-building is just the latest in a string of victories over woke ideology in general:

• Meta Nukes DEI Program; “Morale For Queer Staff In Shitter”; Zuckerberg Joins Joe Rogan Podcast
• Another DEI-mino Falls: McDonald’s Latest To Bail On Diversity Goals
• ‘Fact-Checkers Too Politically-Biased’ – Zuckerberg Abandons Facebook Censorship For X-Like Community Notes
• Walmart Nukes DEI As Anti-Woke Crusader Robby Starbuck Sends “Shockwaves Across Corporate America”
• Celebrating The Death Of Woke And The Resurrection Of Common Sense

The brief order – which ensures Trump will be branded a “convicted felon” at his inauguration in 10 days – noted that Justices Samuel Alito, Clarence Thomas, Neil Gorsuch, and Brett Kavanaugh would have granted the application. In other words, Trump appointee Amy Coney Barrett sided with the liberals on the bench. In retrospect, CNN belief that Justice Barrett might be the “last best hope for Supreme Court liberals” proved to be accurate.

Thanks to Barrett’s defection, the Supreme Court will stand by as Judge Juan Merchan sentences Donald Trump over felony offenses that many legal analysts consider to be a sham.

The Supreme Court offered two reasons it said it refused to grant the application. “First, the alleged evidentiary violations at President-elect Trump’s state-court trial can be addressed in the ordinary course on appeal. Second, the burden that sentencing will impose on the President-Elect’s responsibilities is relatively insubstantial in light of the trial court’s stated intent to impose a sentence of ‘unconditional discharge’ after a brief virtual hearing,” a note on the Supreme Court’s docket read.

After the Supreme Court’s decision, Trump wrote on TruthSocial that he appreciated the “time and effort of the United States Supreme Court in trying to remedy the great injustice done to me.”

He went on to say that he was innocent and would appeal the case.

“For the sake and sanctity of the Presidency, I will be appealing this case, and am confident that JUSTICE WILL PREVAIL,” Trump wrote.

Trump’s application for a stay was submitted on Jan. 8 and argued that “the prospect of imposing sentence on President Trump just before he assumes Office as the 47th President raises the specter of other possible restrictions on liberty, such as travel, reporting requirements, registration, probationary requirements, and others—all of which would be constitutionally intolerable under the doctrine of Presidential immunity.”

New York Supreme Court Justice Juan Merchan has indicated that he wouldn’t impose a punishment including incarceration. He denied Trump’s request to halt proceedings as did two state appeals courts this week.

Trump told the U.S. Supreme Court that Merchan had erroneously admitted certain evidence of his official acts as president and failed to acknowledge a form of immunity for presidents-elect. He asked the court to take up his case and consider those issues, as well as whether he was entitled to an automatic stay due to an appeal on presidential immunity.

Trump was found guilty in May on 34 felony counts of falsifying records in relation to an alleged payments to adult film actress Stephanie Clifford. Merchan is expected to enter a judgment of conviction on Jan. 10 and potentially offer a statement criticizing Trump’s behavior.

Manhattan District Attorney Alvin Bragg, who brought the indictment against Trump in 2023, told the U.S. Supreme Court on Jan. 9 that it should reject Trump’s application and allow the state courts to continue handling the issue. Bragg said Trump was asking for an extraordinary intervention by the justices and that Trump had not yet exhausted his state-court remedies.

“Any stay here risks delaying the sentencing until after January 20, when defendant is inaugurated and his status as the sitting President will pose much more severe and potentially insuperable obstacles to sentencing and finality,” Bragg’s brief read.

The president-elect said that the opinion written by Merchan “goes against our Constitution, and, if allowed to stand, would be the end of the Presidency as we know it.”

“I can’t comment on that. They’ll raise the price,” Errol replied when asked by Times Radio about the unconfirmed report. When pressed again, the elder spilled the beans.

"Does your son want to buy Liverpool Football Club?"

"I can't comment on that. They'll raise the price."

Errol Musk confirms that his son, @ElonMusk, is interested in buying Premier League side Liverpool.@KaitBorsay pic.twitter.com/2xcRPH0b6k

— Times Radio (@TimesRadio) January 7, 2025

“Oh, yes. But that doesn’t mean he’s buying it,” he replied. “He would like to yes, obviously. Anybody would want to – so would I!” he said. “His grandmother was born in Liverpool, and we have relatives in Liverpool, and we were fortunate to know quite a lot of the Beatles because they grew up with some of my family. So, we are attached to Liverpool, you know.”

Liverpool is presently owned by Fenway Sports Group, an American sports investment firm that acquired the Merseyside club in 2010 for an estimated £300m. Since then, the Reds have thrived under their ownership, clinching both the Premier League and Champions League trophies.

Meanwhile, the $400 billion man has yet to comment on the matter.

Musk has previously spoken glowingly of his grandmother, describing nana Cora Amelia Robinson as an important part of his upbringing in South Africa. Cora was born in 1923 and passed away in 2011 at the age of 87 years old.

“My Nana was one of the poor working-class girls with no one to protect her who might have been abducted in present-day Britain,” Musk wrote on X of his grandmother. “She was very strict, but also kind and I could always count on her. She grew up very poor in England during the Great Depression only to be bombed in WW2,” he added.

My British grandmother, Cora Amelia Robinson, was an important part of my childhood. She was very strict, but also kind and I could always count on her.

She grew up very poor in England during the Great Depression only to be bombed in WW2. To earn money for food, she cleaned…

— Elon Musk (@elonmusk) January 7, 2025

According to Musk, his nana didn’t have it easy. “To earn money for food, she cleaned houses, leaving me with a lasting respect for those who do so,” he said.

Upon the death of former British Prime Minister Margaret Thatcher in 2013, Musk paid tribute to the “Iron Lady,” referring to her as “tough but sensible and fair like my English Nana.”

“The Fed is absurdly overstaffed,” Musk wrote on X early Monday morning, responding to Chamath Palihapitiya’s post about the Fed’s latest interest rate decision (read here).

The Fed is absurdly overstaffed

— Elon Musk (@elonmusk) December 23, 2024

A recent note from the Mises Institute pointed out that about 23,000 people work at the Federal Reserve Board in Washington and 12 regional reserve banks across the US.

The Federal Reserve System

“But there’s more to it than that. The financial statements reveal that the Board of Governors expenses and currency costs were $2 billion. If this constitutes salaries, then total salaries and pension costs at the Fed become closer to $7 billion. Dividing this figure by 23,000 people equals around $304,000 per employee,” Mises said.

This is the breakdown of employees by function/organization (should be roughly accurate). The vast majority is at the Reserve Bank level.

Where is the bloat and that should be optimized?

Would be interesting to see how AI is being used for automation and more advanced… pic.twitter.com/EpHRuP1S1c

— Lee Feldman (@Leeefeldman) December 23, 2024

Musk and Vivek Ramaswamy have been tasked with streamlining federal operations through the Department of Government Efficiency (DOGE). The department aims to create a leaner, more efficient government, including $2 trillion in spending cuts. The wish list of potential efficiencies continues to grow – with a ‘really bold plan for day one ‘ …

Days before the presidential election, Ron Paul asked on X if he could join DOGE in Trump’s second term. Musk responded: “Would be great to have Ron Paul as part of the Department of Government Efficiency!”

Would be great to have Ron Paul as part of the Department of Government Efficiency!

— Elon Musk (@elonmusk) November 1, 2024

Last week, Ron Paul wrote on X, “We should wean ourselves off The Fed, like we weaned ourselves off the mainstream media.” Musk responded: “Yes!! Ron Paul ftw.”

Yes!! Ron Paul ftw https://t.co/7W4YnraXPn

— Elon Musk (@elonmusk) December 17, 2024

Let’s not forget about 400 PhD economists at the Fed failed to forecast the inflationary storm triggered by the rapid expansion of the money supply by trillions—only for them to dismiss it as “transitory.” Such a massive misreading underscores the urgent need for restructuring. Errors of this magnitude are unacceptable.

With a workforce of 23,000, the Fed still manages to lose money—upwards of $200 billion.

Not to mention. pic.twitter.com/h9MW5CfQZq

— Ken Evans (@Snavenek) December 23, 2024

Perhaps Fed chair Jay Powell’s days are numbered.

But this latest batch will be courtesy of Google’s parent company Alphabet, whose subsidiary Wing will be “expanding its drone delivery service to DoorDash customers in the Dallas-Fort Worth Metroplex”, according to The Verge.

Wing’s drones are designed for small parcel delivery, combining vertical takeoff with fixed-wing forward flight for speed and range. Powered by electric batteries, they feature redundant systems like extra propellers for safety.

And starting last week, DoorDash users in Frisco and Fort Worth can receive drone deliveries from 50 local merchants, with items arriving in as little as 15 minutes, via Wing, the report says.

The drones fly at speeds up to 65 mph and hover at 150 feet to safely lower orders. Eligible Dallas-Fort Worth addresses can access this option, and locals can check eligibility on Wing’s website.

The Verge reports that Wing has completed over 400,000 global deliveries since its first U.S. pilot in 2019.

Previously, it had partnered with DoorDash in Australia and Virginia, the latter focusing on Wendy’s deliveries. In Dallas-Fort Worth, Wing has worked with Walgreens for airdrops, while Walmart runs its own drone program in collaboration with Wing and Zipline.

Wing launched takeout deliveries in Bonython, Australia, in January 2019. By April 2019, it became the first drone company to earn an FAA Air Operator’s Certificate to operate as an airline in the U.S. In early 2022, it completed over 50,000 deliveries.

The resultant company would be world’s third-largest automaker by sales, according to the report. On Monday the two companies announced they had signed a memorandum of understanding to integrate their businesses, with Mitsubishi Motors also joining the discussions.

Facing competition from EV leaders like Tesla and China’s BYD, Japanese automakers are uniting to cut costs and accelerate their transition to electric vehicles.

Honda’s president, Toshihiro Mibe, stated the companies plan to form a joint holding company, maintaining their brands while Honda leads management. A merger agreement is targeted for June, with the holding company expected to list on the Tokyo Stock Exchange by August 2026.

There is still to study and discuss, Mibe said. He commented: “Frankly speaking, the possibility of this not being implemented is not zero.”

“We have come to the realization that in order for both parties to be leaders in this mobility transformation, it is necessary to make a more bold change than a collaboration in specific areas,” he added.

AP writes that a potential merger between Honda, Nissan, and Mitsubishi could create an automotive giant valued at over $50 billion, helping them compete with industry leaders like Toyota and Volkswagen.

Toyota, which collaborates with Mazda and Subaru, produced 11.5 million vehicles in 2023, far surpassing the combined output of the three companies, which totaled about 8 million vehicles that year.

Reports earlier this month suggested Taiwan’s Foxconn was interested in acquiring Nissan shares from Renault, but Nissan CEO Makoto Uchida denied any direct approach from Foxconn, acknowledging the company’s “severe” situation.

Speculation had previously linked Foxconn to Nissan shares, but CEO Makoto Uchida denied contact and acknowledged Nissan’s financial struggles, the AP report says.

The merger aims to strengthen EV and software efforts, addressing global market shifts. Nissan, recovering from scandals and recent losses, has cut jobs and restructured under Uchida. Analysts highlight Honda’s potential benefits, including access to Nissan’s SUVs and EV expertise.

This marks a $5 trillion increase since 2023 alone. Looking ahead, debt levels are projected to increase faster than previously expected as government policies fail to address debt risks amid aging populations and increasing healthcare costs. Going further, rising geopolitical tensions could lead to higher spending on defense, adding strain to government budgets.

This graphic, via Visual Capitalist’s Dorothy Neufeld, shows government debt by country in 2024, based on data from the IMF’s October 2024 World Economic Outlook.

Ranked: Government Debt by Country

As the world’s largest economy, the U.S. debt pile continues to balloon, accounting for 34.6% of the world’s total government debt.

Overall, net interest payments on the national debt soared to $892 billion in the 2024 fiscal year. By 2034, these costs are forecast to reach $1.7 trillion, with total net interest costs amounting to $12.9 trillion over the next decade. A rising mountain of debt and higher interest rates are among the primary factors driving up net interest costs.

Below, we show the gross government debt of 186 countries worldwide in 2024:

*The above table uses IMF data from October 2024, however, the most current up-to-date number for U.S. government debt is $36.1 trillion based on data from the U.S. Treasury for December 12, 2024.

China, ranking second globally, holds 16.1% of the world’s government debt.

Over the next five years, China’s debt to GDP ratio is projected to hit 111.1% of GDP, up from 90.1% in 2024. Going further, Chinese officials recently stated they are prepared to deploy stimulus measures to support the economy if Trump imposes sweeping tariffs on goods imported from China. As a result, China’s debt to GDP could rise even faster than current projections.

India, ranked seventh globally, has amassed $3.2 trillion in debt, an increase of 74% since 2019. However, thanks to its strong economic growth and fiscal policies that are increasing government revenues, debt as a percentage of GDP is projected to fall gradually from 83.1% in 2024 to 80.5% by 2028.

In Europe, the UK has amassed the most debt, about $3.65 trillion, equal to 101.8% of GDP. This is far higher than the regional average, standing at 77.4% of GDP in 2024. Europe has a lower debt to GDP than North America and the Asia-Pacific, but European budgets likely face increasing pressures looking ahead, due to sluggish economic growth, trade wars, and aging populations.

A Regional Outlook for Global Debt

Below, we show how government debt by region is projected to change over the next five years:

As we can see, average debt by country in North America is set to swell to 125% of GDP, the highest across global regions.

With governments increasingly using stimulus measures to boost the economy, it poses a greater threat to fiscal sustainability. In order to stabilize debts, the IMF stated that major spending cuts and tax hikes are needed over the next five to seven years.

Like North America, debt to GDP ratios are set to increase across Asia, Europe, and the Middle East.

Overall, world government debt is projected to exceed 100% of global output by 2029, driven by several large countries including the U.S., China, Brazil, and France, among others.

To learn more about this topic from a forward-looking perspective, check out this graphic on G7 government debt projections over the next five years.

And it doesn’t have to be just one. We might see more variations of “Disease X” pop up to really strike fear in the hearts of the indoctrinated. But Bird Flu is at least the first major play the Globalist Elite Cabal is making in the post-Covid world. We have seen far too many inexplicable reactions and unhinged fearmongering tactics deployed for us to dismiss it. I talked about it on today’s episode of The JD Rucker Show.

Plandemic 2.0?

"Bird Flu 'Emergency' Is Part of the Foundation for the Next Plandemic" pic.twitter.com/pMEk6KBzyS

— JD Rucker (@JDRucker) December 20, 2024

Here are the facts from Tyler Durden at Zero Hedge:

Does California’s Bird Flu Emergency Portend the Next Trump-Era Outbreak?

This week California Governor Gavin Newsom (D) declared a state of emergency over avian influenza, aka Bird Flu.

And while Newsom says the order was simply a precaution after one person in Louisiana was hospitalized with the first severe illness caused by the bird flu in the United States, one has to wonder – WTF…

“This proclamation is a targeted action to ensure government agencies have the resources and flexibility they need to respond quickly to this outbreak,” Newsom said in a Wednesday statement.

According to the governor’s office, Bird flu has been found in dairy cows in Southern California – therefore, the emergency is needed to “contain and mitigate the spread of the virus” despite the fact that there have been no reported cases of person-to-person transmission in the state.

What makes this extra-interesting is a tidbit at the end of the new documentary, Thank You Dr. Fauci – notably an infamous op-ed penned by Fauci and his former ‘boss’, NIH head Dr. Francis Collins, in which they suggested that their dangerous research was a “risk worth taking.”

Fauci and Collins penned infamous op-ed for @washingtonpost claiming this dangerous research could cause a pandemic but it was a "Flu Risk Worth Taking" See past from @Bryce_Nickels https://t.co/rq4tfVzQXP and continue this for more…

— Thank You Dr Fauci (@ThankYouDrFauci) December 19, 2024

Which brings us back to California – where the new emergency declaration will empower state and local agencies with additional funding and flexibility in dealing with the virus, that nobody in the state has caught… yet.

As the Epoch Times notes further, While not linked to human bird flu cases, a raw milk dairy based in California issued a voluntary recall several weeks ago after avian influenza was found in a lot.

All of the illnesses in the United States, except for the Louisiana case, have been mild, and the vast majority have been among farmworkers exposed to sick poultry or dairy cows. This year, more than 60 bird flu infections have been reported, with more than half of them in California, according to the U.S. Centers for Disease Control and Prevention (CDC).

In the Louisiana case, the infected person is older than 65, has underlying medical problems, and has also been in contact with sick and dead birds in a backyard flock, according to the CDC.

Last month, Canadian officials reported that a teen in British Columbia was hospitalized with a severe case of bird flu. CDC officials did not answer a question about whether the new U.S. case and the case in Canada had any similarities or differences, directing reporters to ask Louisiana officials.

Health officials say bird flu is still mainly an animal health issue and that the risk to the general public remains low. There has been no documented spread of the virus from person to person in the United States or elsewhere.