Life has ten thousand possibilities, and at each stage, we have different insights. Life is a wonderful journey, and we should live in our own way, not in the shadow of others. These days, the main focus of the market is on excitement, but we should not forget about the risks.
The Biden administration's budget deficit for the 2023 fiscal year is as high as $1.695 trillion, making it the third largest deficit in U.S. history. The only time the U.S. government had a larger deficit was during the COVID-19 pandemic in 2020 and 2021.
According to the latest "Monthly Treasury Statement" for the U.S. fiscal year, the U.S. government had a deficit of $170.98 billion in September. This figure is more than double the projected amount. If it weren't for an accounting measure in August, the revocation of student loan forgiveness, the deficit might have been even higher.
The budget deficit for 2023 is larger than any deficit during the Obama administration's period of the Great Recession, despite the current economy being considered strong. The U.S. government's spending for the 2023 fiscal year is as high as $6.13 trillion. This figure is slightly lower than last year's total spending, but the accounting for the reversal of student loan forgiveness caused a deviation. If we exclude the reversal factor of student loan forgiveness, the Biden administration's spending for the 2023 fiscal year is $6.46 trillion, representing an actual year-on-year increase of 8.8%.
The Biden administration wants to spend even more money. Biden recently proposed a $100 billion package of aid for Israel, Ukraine, and other "national security" priorities. Despite some Republicans making a big fuss, there is almost no interest in Washington, D.C. in addressing this spending issue.
The fundamental problem is not that the U.S. government doesn't have enough money. The fundamental problem is that the U.S. government spends too much, both in the past and at present. Despite pretending to cut spending, the debt ceiling agreement did not solve this problem. Even with new plans, spending will increase. And now, spending has reached its highest level in history. This means that huge budget deficits will continue to exist, and U.S. national debt will continue to increase.
Bitcoin saw a significant upward surge this morning, rising by over 4000 points and briefly reaching the 35974 level, strongly pressuring the short positions. After the rapid rise in the early session, there was an attempt to short, but it failed. The trend is still very strong, and later updates indicate that there will be perfect opportunities to take advantage of several bearish rebounds. Currently, the price has once again retraced by several hundred points, undoubtedly indicating a continued long position.
Currently, the hourly chart continues to show retracement, with effective support at the 33500 level. After a retracement, there is a high probability of remaining at a high level and making further upward movements, with a very small probability of a significant downturn. The next move can be to go long directly at 33850/750, with the target continuing to be 34500, 34800.
Ethereum also surged all the way, and the current price is around 1814. Further long positions can be taken at 1800/1790 on retracement, with the target being the high point of 1840/50.
Duan Chenbei shares daily mantras and insights in his blog. Remember to continue following, liking, and bookmarking! Hopefully, all fans can make steady progress in futures and spot trading, ask questions when in doubt, and improve their trading mindset through practical experience. Only by mastering both the person and the coin can one remain stable in the long run!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
