The Undollar Digest

Deficits and Private-Sector Credit

Doug Noland, www.prudentbear.com, 04/23/2010
Count me a subscriber of the “sugar high” thesis.  The combination of double-digit (to GDP) deficits, protracted near-zero rates, and the Fed’s unprecedented Trillion-plus monetization has worked wonders.
Economic recovery is thus far having little impact on deficits specifically because the current expansion is financed chiefly through government borrowing and spending.

…[T]here is no [...]


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