A look at our government’s debt – rising because we like to spend
One of the great similarities of our economic downcycle and Japan’s two decade long journey to oblivion: both are periods of economic stress caused by private sector deleveraging — in which the government mitigates the resulting pain by borrowing and spending. Japan’s government has run up terminally large debts, on a gross basis equivalent aprox to 2x its GDP. We’re on the …
A look at our government’s debt – rising because we like to spend Read More »