2 ms·
It's not? You mean to say debt is not growing any longer? (deficit is growth of debt is it not?) (genuinely curious, I'm only on page 30 of piketty :P)
by tinco 12y ago
It's not? You mean to say debt is not growing any longer? (deficit is growth of debt is it not?) (genuinely curious, I'm only on page 30 of piketty :P)
- kaonashi 12y agoIn nominal terms, yes. The point is that it never becomes unsustainable because the interest rates paid are determined by the issuer, and inflation is a product of net spending (deficit). (not really Piketty, more Fullweiler)