"Wharton Professor Warns of 2025 Meltdown as $34 Trillion Debt and 7% Mortgage Rates Loom"

Wharton Business School finance professor Joao Gomes warns that America's $34 trillion debt burden could trigger a financial crisis as early as 2025, with mortgage rates potentially spiking above 7%. Gomes believes that neither political party is taking the issue seriously, and the next administration could be derailed if it proposes expensive policies. Warning signs include a lack of buyers for government debt, potentially leading to a market rebellion and higher interest rates. Gomes suggests that growing the economy or cutting spending may be solutions, but the crisis could have global ripple effects and be difficult to avoid.