Summary: The effects of debt are among the most widely misunderstood factors of macroeconomics. The almost delusional writings of perma-bears and conservatives have demonized debt, while economists often regard high debt levels with complacency. Yet economists have learned much about dynamics of debt. This post looks at this cutting edge of economic theory, very relevant … Continue reading Fact & myth about the debt supercycle, a story of modern America
My framework for analysis of current economic events sees this as the end of the post-WWII geopolitical and economic regime. Like walking through a forest and seeing only trees, it is difficult to grasp the magnitude of these events. Long-term graphs are needed, and easily show that current events reflect the ending of a long … Continue reading Can you see the signs of spring in the coming of winter? A note about the recession.