In The NEWS

Critical minerals, explained
Critical minerals are used to build the batteries, computer chips, and magnets that power modern technologies, from personal devices to clean energy sources, and advanced military apparatuses. The US government has identified 50 minerals as “critical,” deeming them to be essential to the national interest but to have a vulnerable supply chain (see the list).

Rare earth elements are some of the most sought-after minerals because their unique atomic structures give rise to various electrical, luminescent, and magnetic properties. Sixteen of these 17 metallic elements clustered at the center of the periodic table are on the US’ latest critical mineral list published in 2022.

Developed nations like the US, Canada, and China are sprinting to control critical mineral mines in Africa and South America. China is currently dominating the race. It accounts for about 70% of global rare earth ore extraction and 90% of rare earth ore processing.

... Read our full deep dive on critical minerals here.

Also, check out ...
> The one location that holds 75% of the world's lithium. (More)
> How your phone is powered by rare earth elements. (More)
> Why seemingly abundant copper can't keep up with demand. (More)



The National Debt, 101
The national debt is the total amount of money the federal government has borrowed, plus interest. This borrowed money supplements taxpayer dollars to fund government operations, from national defense to welfare programs. Today, the debt stands at over $36T, double the amount in 2014.

The US has accrued debt since its infancy. Only seven years into nationhood, debts from the Revolutionary War totaled $43M. To raise money beyond taxes, the US government primarily sells bills, notes, and bonds (collectively called securities) to domestic and foreign individuals, companies, and other governments (see chart on annual interest payments on the debt here).

Where the nation should cut spending and how much, in order to rein in debt, is an ongoing political debate. While much focus is put on debt, the debt-to-gross domestic product ratio and interest payments on debt relative to GDP are widely considered to be key indicators of fiscal health. The lower a country’s debt-to-GDP ratio and interest rates are, the stronger its economy is likely to be.

... Read our full take on the national debt here.

Also, check out ...
> The time the US fully eliminated the national debt. (More)
> What happens if we hit the national debt ceiling. (More)
> Who owns the federal government's debt? (More)

SOURCE:  1440 NEWS