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Some people don't seem to understand that there is a ceiling on macro economic debt financing as a driver of economic growth. Once someone or some company has
by nugget 11y ago
Some people don't seem to understand that there is a ceiling on macro economic debt financing as a driver of economic growth. Once someone or some company has pulled forward all their future consumption and earnings with zirp-level interest bond issuances, credit cards and mortgage notes, there's not much more they (or the economy) can do.