September 2024 Newsletter: Why Nothing Stops This Fiscal Train
The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton
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Item #1: Fiscal Deficits
U.S. fiscal deficits were huge in 2020 and 2021, but contracted in 2022 as most of the emergency programs dwindled.
However, by 2023, fiscal deficits began rising again , mainly due to increased interest expense. This is where fiscal dominance became rather sustained: the Fed’s interest rate hikes, which were meant to slow
... See moreLyn Alden • July 2024 Newsletter: Rates Insensitivity in the Downcycle
