Fact & myth about the debt supercycle, a story of modern America

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

Death of the post-WWII geopolitical regime – death by debt

But this *long run* is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again. --- John Maynard Keynes, "A Tract on … Continue reading Death of the post-WWII geopolitical regime – death by debt