Government bonds just got interesting
Many Happy Returns
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Central Banks Are in Checkmate
Fiscal responsibility was meant to be enshrined in the treatise. I think it had a cap of something like 60 % debt to g d p countries weren't meant to exceed, and they've just ignored that. This all kind of comes back to the problem every central bank is really facing now. A lot of the inflation that we see now is not directly affected by monitary policy. You can't affect the price of oil by increasing interest rates. So these exogenous shocks have put these central banks into a really difficult situation.
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