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11min chapter
Gilt Yields and Ghosts of Budgets Past: Who's Afraid of Bond Vigilantes?
Many Happy Returns
Bond Market Dynamics and Government Spending
This chapter explores the behavior of bond investors and their rational actions in response to government fiscal policies, comparing it to a lion's defense mechanism. It highlights the impact of recent budgetary decisions on the bond market, particularly in the UK, examining issues such as high inflation and unfunded tax cuts that exacerbate financial instability. The discussion critiques short-term budgeting practices and advocates for more realistic fiscal goals to promote long-term economic growth.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode