Fix the global debt crisis before it's too late, warns World Bank's David Malpass
GZERO World with Ian Bremmer
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The Importance of Monetary and Fiscal Policy
Governments borrowing the next generation's worth of capital and spending it now is not wise. Central banks should own T-bill short term assets as part of monetary policy, he says. But right now they've become the world's biggest investor with a huge duration mismatch. We need to get out of this situation - we are seeing every day that the US doesn't have a workable debt limit.
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