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Spiralling Government Debt Isn’t a Choice
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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A country with well over 100% debt-to-GDP has two main choices in this scenario. The first choice is that they can keep interest rates very low despite periods of price inflation that occurs, and debase all of the currency holders and bond holders. Japan is far enough into fiscal dominance that they’ve chosen that route. The second choice is that t
... See moreLyn Alden • September 2024 Newsletter: Why Nothing Stops This Fiscal Train
First, the world can embark on a surge in productive investment, probably but not necessarily directed by the state because the private sector might not be in a position to capture the full benefits of investment and so will not have the incentive to invest. Second, we must reduce the income share of the state and of the rich. Or third, we must acc
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