increase by $ 5 billion a day in the next 10 years, such a forecast made bank of america analyst michael hartnettiting data from the us congressional budget office, said debt will increase faster than the entire economy of the country. there is such a situation, although they are late for a compromise between republicans and democrats, that there is still no way out. at the moment, all the decisions of american politicians have only led to a record flow, a public debt of 32 trillion dollars, but whether there will be more experts predict that by 2053 the debt-to-gdp ratio of the state will be one to two. singapore celebrates the day today alexander lukashenko congratulated the president and the people of the country on independence on the national holiday, the belarusian leader stressed that the attention of the largest financial center of southeast asia represented by singapore to our regional integration project, the eurasian economic union, will serve as an incentive to search for new profitable areas of cooperation, the dialogue between minsk and singapore on issues of joint diesel production

so michael hartnett, chief investment strategist over at bank of america says that the jump in this market represents what he is calling a big rally before a big collapse. i have read where you're starting to worry maybe the market is getting ahead of itself right now, is that right? >> well, look, the market got up to my year-end target of 4600, basically on july 31st. so it is five months ahead of schedule. i think the market is going to move sideways. it could go down and then come right back up to 4600. i didn't raise my 4600 target, i kept it, but i'm, i think the second half of the year will simply be a more challenging one than the first half. next year i think will be a better year as you probably know i'm still talking about 5400 by the end of next year but for the here and now we achieved my year-end target. i will leave it there. charles: all right. let's leave it there as well. ed, fantastic stuff as always. again, love having you up first because i always learn something so does the audience, appreciate it, thanks. >> thank you. charles: all right, folks, coming up my takeaway

in a research note published friday, bank of america strategist michael hartnett called the latest chinaumbers "positively shocking and warned of the heightened risk of a major credit event that would send prices lower and require a coordinated international response. the ongoing liquidity crises for country garden and shadow bay are one potential source of event to risk he added. so that is about the economic crisis in china, but now, let's hear more from president biden. even as the topic of china looms large at yesterday's trilateral meeting, between president biden and the leaders of japan and south korea, in public the president spoke cautiously about tensions with china. [video clip] >> this summit was not about china. that was not the purpose of the meeting. china obviously came up. not to say we don't share concerns about the economic coercion or heightened tensions caused by china, but this summit was really about our relationship with each other and deepening cooperation across an entire range of issues that went well beyond the immediate issues we raised. it was about more pea

in a research note published friday, bank of america strategist michael hartnett called the latest chinaumbers "positively shocking and warned of the heightened risk of a major credit event that would send prices lower and require a coordinated international response. the ongoing liquidity crises for country garden and shadow bay are one potential source of event to risk he added. so that is about the economic crisis in china, but now, let's hear more from president biden. even as the topic of china looms large at yesterday's trilateral meeting, between presidentiden and the leaders of japan and south korea, in public the president spoke cautiously about tensions with china. [video clip] >> this summit was not about china. that was not the purpose of the meeting. china obviously came up. not to say we don't share concerns about the economic coercion or heightened tensions caused by china, but this summit was really about our relationship with each other and deepening cooperation across an entire range of issues that went well beyond the immediate issues we raised. it was about more peace