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2020-10-10

The fashion in economics these days is to argue that spiralling debt no longer matters

That underwritten by the central bank printing press, governments can borrow as much as they like without consequence, at least until the pandemic is over. 

Debt is debt, and eventually it has to be paid for. The alternative of default, either directly or through inflation, carries its own, even more vicious forms of punishment.


https://www.telegraph.co.uk/business/2020/10/09/one-day-pandemic-will-damage-done-public-finances-meantime-will/



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