36万亿美债告急，特朗普出手反击，大债主恐遭重创！

Core Viewpoint - The article discusses the escalating U.S. national debt, which has reached $38 trillion, and highlights former President Trump's aggressive stance against the Federal Reserve, aiming to reduce interest payments by pressuring for lower interest rates [1][3][14] Group 1: Trump's Actions and Statements - In early 2025, Trump publicly criticized Federal Reserve Chairman Jerome Powell, accusing him of dereliction of duty and calling for his resignation, aiming to pressure the Fed into lowering interest rates to alleviate the debt burden [3][5] - Trump's administration highlighted the rising costs of the Federal Reserve's headquarters renovation, using it as a political tool to accuse the Fed of wastefulness, which led to congressional hearings [3][5] - The Trump team proposed an executive order to bring the Securities and Exchange Commission under presidential control, ostensibly to enhance regulation but effectively to diminish the Fed's power [5][10] Group 2: Market Reactions and Global Implications - Trump's actions have led to a sell-off in U.S. Treasury bonds, raising concerns about the safety of U.S. debt and the dollar's dominance in global markets [6][12] - China has been reducing its holdings of U.S. debt, selling $18.9 billion in bonds in 2025, indicating a shift in global investment strategies and a diversification of reserves [8][12] - The article notes a broader trend of countries moving away from dollar-denominated transactions, with increased use of alternative currencies in trade settlements, particularly in oil and arms [8][12] Group 3: Long-term Consequences - The article emphasizes that Trump's policies, while aimed at short-term gains through tax cuts and tariffs, have exacerbated long-term fiscal vulnerabilities, leading to a hollowing out of U.S. manufacturing and a weakened tax base [10][12] - The ongoing political theater surrounding the Fed and the national debt has created a complex environment where the interplay of policy, market dynamics, and international relations is increasingly unstable [14] - The timeline of events from tax reforms in 2017 to the current debt crisis illustrates a pattern of escalating fiscal irresponsibility and political maneuvering that threatens the U.S. economy's stability [14]