$40 TRILLION 'TIME BOMB': Is Trump about to break the global economy?

<p>Is Donald Trump driving the world economy off a cliff while you’re on your summer holiday? </p><p>America has just passed $40 trillion of debt. Trump’s tariffs are pushing up prices, his tax cuts are adding to the deficit, and his war with Iran has sent oil prices soaring. </p><p>Now bond markets are turning on him. The US treasury has tried to step in and calm the bond markets, but it doesn’t appear to have worked. </p><p>So what exactly is going on? Is this just a wobble in the bond markets - or a sign of something much worse to come? </p><p>On this episode of The Fourcast, Ciaran Jenkins is joined by Pippa Malmgren, who served as an economic adviser to President Bush, and The Economist’s Archie Hall.</p>