Interesting question actually. Given a level of inequality, how should debt be notionally 'distributed'? https://twitter.com/jamyerson/status/725357831466192896 …
@gibsopi @JAMyerson There's no ground truth here, remember. Confidence is relative to *other* instruments available globally.
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@vgr@JAMyerson I'd say, let me know when it seems U.S. debt is impacting U.S. borrowing power. It does not appear to have ever happened. -
@gibsopi
@JAMyerson Agreed. But it's no longer as unassailable as it once seemed. In 1990, Saudis would not even have bluffed about dumping
End of conversation
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