Against Crony Capitalism Friday Edition

More on debt interest than defense this year, Russiagate in the light of day, Elon to buy Disney?, Drinking on credit cards giving Gen Z the blues

We will spend more on interest payments on the national debt than on defense for the first time this year

This is not good. What do they say? Slowly then all at once?

“All else equal, a bigger government deficit means higher short-term and long-term interest rates,” said Lee Ferridge, head of macro strategy for North America at State Street Global Markets.