Good to see experts from well-respected institutions call out the current problems with monetary policies in the last two decades, while many others seem to be

Good to see experts from well-respected institutions call out the current problems with monetary policies in the last two decades, while many others seem to be ignoring them. Thinking about modern monetary theory proponents MMT here. One of the several interesting and elsewhere rather seldom heard positions. > Over successive business and financial cycles, all this can contribute to an upward drift in debt levels (Graph). Unless corrected, public finances deteriorate. And monetary policy contributes to a downward trend in interest rates which boosts debt further. The risk of a “debt trap” can become real: the rise in debt makes it harder to raise interest rates towards more normal levels without generating the problems policymakers are trying to avoid. The economy becomes more sensitive to interest rate increases, not least because of their stronger impact on debt service burdens. I think western states/economies are already caught in a spiral of increasing debt, they'll have a really hard time coming out of. Looks like governments will just keep on piling on debt, because all other options are politically difficult.