Russell, what do you think of the view (as opposed to Barro Ricardian equivalence) that government debt in a fiat currency regime is essentially private sector net wealth
Hence the interest payments on treasuries (to the extent that they're domestically held) are actually stimulatory.
Given that BRICS central banks are now selling treasuries, more of the interest will be recycled domestically or at least amongst friendly foreign institutions
Isn't this becoming like the Italian case of finance, where households (allegedly!) don't pay tax, but instead dutifully buy government debt?
You can’t send the boys round to yourself :) it’s all the same turtles all the way down
Is trump's selling point- everyone is corrupt
The fact it comes from trump doesn’t make it wrong
The other elephant in the room is an “asleep at the wheel” anti-trust effort, that may just be awakening from its multi decade hibernation
That's happening - but also needs a cooperative judiciary...
Throw in a lobby system and things start getting rather murky, rather fast
Hear hear!
Russell, what do you think of the view (as opposed to Barro Ricardian equivalence) that government debt in a fiat currency regime is essentially private sector net wealth
Hence the interest payments on treasuries (to the extent that they're domestically held) are actually stimulatory.
Given that BRICS central banks are now selling treasuries, more of the interest will be recycled domestically or at least amongst friendly foreign institutions
Isn't this becoming like the Italian case of finance, where households (allegedly!) don't pay tax, but instead dutifully buy government debt?
It makes me curious to learn more
Love the article
Hlo