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While that has been true for the US the past ~250 years, the US are to some extent an anomaly. Most of the world has seen bond owners get eaten almost complete

While that has been true for the US the past ~250 years, the US are to some extent an anomaly. Most of the world has seen bond owners get eaten almost completely really. Almost all of Africa, large swathes of Asia, much of Europe including Germany and Russia, most of South America...

JumpCrisscross 4y ago
> all of Africa, large swathes of Asia, much of Europe including Germany and Russia, most of South America Were any of these seen, contemporaneously, as low-risk? The backfire sovereigns in the last 100 years were limited to Austria-Hungary and the Dutch, trading economies derailed by war. The others aren’t trading nations, or were well-established basket cases when they issued their debt.