A conversation I had earlier today suggested that it might be worth pointing out a fact that isn’t as widely known as it should be: namely, that there has not been an explosion in debt over the past few years. There has been a big rise in federal debt, but this has gone along with a collapse in private borrowing, so that overall debt growth has been lower than it was in the pre-crisis years:
Source.
Bear this in mind when someone starts ranting about hyperinflation just around the corner thanks to explosive debt growth.
Bear this in mind when someone starts ranting about hyperinflation just around the corner thanks to explosive debt growth.
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