144 – Peter Stella on Debt, Safe Assets, and Central Bank Operations
Macro Musings with David Beckworth
00:00
The Importance of Exporting Debt
Sally Kohn: The world needs the U.S. to run deficits, even though we don't need them. She says it's a hard sell to Congress, maybe politically, but the world needs us. In Singapore, she says, they've been running surpluses for 30 years and are now issuing 50% of GDP in government debt. Kohn: What other countries do this Mexico is wrong? But if you did, you're issuing debt simply as a public good to the financial system.
Transcript
Play full episode
