George Hall on the History of the U.S. National Debt and Government Financing
Macro Musings with David Beckworth
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The Market Value of Public Debt
During times of stability, there's not a big difference between this accounting framework and our framework. But it's during times of fiscal stress where these differences matter and are really important. We look to COVID and said it looks an awful lot like a war. And we see these basic patterns over and over again in various wars.
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