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Wow. I assumed global deficits were approx $50T in the QE-era. With Global World Product (GWP) ballpark $75-100T. And annual global growth rates averaging 3-4%
by ArtWomb 8y ago
Wow. I assumed global deficits were approx $50T in the QE-era. With Global World Product (GWP) ballpark $75-100T. And annual global growth rates averaging 3-4% in good times.
Even with old numbers. And the assumption interest rates will remain below historical means. There is the possibility creditors can never be paid back.
But with these new estimates of 3X leverage? Time has come to think seriously about debt relief and cancellation. Not top down this time, but bottom up. Starting with direct injection into student loans, home mortgages, medical, small business loans, etc.