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TIP650: Stock Market Bubbles, AI, & Climate Change w/ Jeremy Grantham
We Study Billionaires - The Investor’s Podcast Network
Debt Doesn’t Guarantee Growth
Government policies aimed at stimulating economic activity have intensified over time, especially highlighted during the COVID crisis. Historical data reveals a lack of strong correlation between low interest rates and economic growth. A significant experiment started in 1986, where increasing debt levels were presumed to foster economic stimulation. However, despite tripling the debt-to-GDP ratio from 1989 onwards, the growth rate of GDP has notably slowed to two-thirds of the rate experienced from 1945 to 1989, indicating that rising debt does not necessarily equate to increased economic growth, highlighting the complexity of economic dynamics.
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