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Again, I am not making a counter argument. I am pointing out Zeihan has explicit incentive to show a specific narrative - it's perhaps the single largest and ol
by cthalupa 3y ago
Again, I am not making a counter argument. I am pointing out Zeihan has explicit incentive to show a specific narrative - it's perhaps the single largest and oldest tentpole of his career.
Is the data the whole story? Are there mitigating factors? Does it need mitigating factors to begin with? I don't know. I even explicitly mentioned he could be totally right on this specific point.
I'm simply stating that there is a caveat around the source of those graphs that interested parties should take note of, for the same reasons we ask scientists, journalists, etc., to disclaim any potential conflicts of interest they have.
- frankreyes 3y agoI have a personal bias because I'm from Argentina and I see the world becoming more like my country. Countries printing money like there's no consequences or tomorrow. Argentina's public debt has been pretty stable and on GDP terms it was quite low. But even then, on low public debt, a country can totally wreck the whole economy. Because we print pesos, ARS, like there's no tomorrow and then people get surprised when we get inflation and a total wreched economy. Then populists start blaming the usual suspects: IMF, USA, EU, the f weather. People confuse public debt with private credit. The general idea in Argentina, including Ministers of Finance and Central Bank officials, say that ARS credit is not real debt. Move forward 20 years and you get Argentina. Edit In Argentina, private credit ARS bonds are called LEBAC and LELIQ for those who are interested.