Economic CRISIS in America: Big Signal for India?

VIDEO INTRODUCTION: On 1 st of June of 2023, the United States of America was expected to default on its debt!!! and after a long debate of whether they will or they will not, finally the United States has now suspended its debt ceiling and prevented default!! and while most people might think the US default problem is over, what we fail to see is that this is a very very big indicator of the US dollar weakening, and the fact that the US economy is not far from breaking down!!
in fact, if you look at their debt to GDP ratio, while 77% of Debt of GDP is considered to be the limit of safety for Debt to GDP ratio, India stands at 83%, UK stands 99% and US stands at 134%
and if you look at this graph, this is the highest debt to GDP ratio US has ever touched in the past 150 years and today its more than the times of great depression, both the world wars and even covid!! and every time they reached the debt ceiling they have increased it further!!!
and they have increased the debt ceiling not once not twice for the 78 times since the 1960s!!
So even though the US got away again, with Russian aggression, Chineese power and the India's fast-growing influence, one day United states will default!! and when they do, it will not just shake the world economy but will also be a pivotal moment in the world history which might result in a shift of power!!
So as students of business, it is very very important to study this macroeconomic situation, because this moment will affect everything starting from, world powers to the stock market to every single commodity in the international market!!!
So in this episode, let's try to understand,
What the hell is a debt ceiling?
Why is so important in the context of US?
What happens when a country violates its debt ceiling?
and in the next 10 years, if the US defaults, how will affect the world economy?