Regarding 'hand wringing' about T-bills -- it's not an emotional response but a rational one.

Stephen Miran, chair of the Council of Economic Advisers, has published a detailed plan, see below, to radically change the U.S. economy (involving tariffs, devaluing the dollar, etc), radically change the global economy, and radically change global geopolitics (alliances etc). Scott Bessent, Treasury Secretary buys in. The plan involves tariffs, Trump has long liked tariffs.

In this thread https://www.shrewdm.com/MB?pid=638518736 I posted an interview with Gillian Tett discussing the plan, a link to the Miran paper, and a NotebookLM audio summary of the Miran paper (it's dense).
If they succeed in this radical transformation then perhaps things would be great. Or not.
The risk in trying this radical restructuring is immense.
For more, see also this thread https://www.shrewdm.com/MB?pid=373148673
To think that Trump would not back a radically restructuring is belied by his allowing Musk to try to radically restructure agencies that run the U.S. government.

US Policy FAQ

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