Is the U.S. headed the way of Zimbabwe, with endless central bank monetization of the central government’s debt?
In a non-firewalled op-ed for the Financial Times, World is right to worry about US debt, which is introduced by the Op-ed editors with the sentence “America must face up to its responsibilities, writes Kenneth Rogoff”, we get [...]
Last year, on June 26, when the 10-year Treasury traded at 2.87%, already far down in yield from its peak, I indicated that the yield could go a lot lower because the U.S. was developing a “yotai gap” in Japanese fashion. The post was titled Yotai Gap to Provide Fuel to the Treasury Bond Bull? [...]
Judge Napolitano discusses the Occupy Wall Street demand for a debt jubilee, that is, forgiveness of all consumer debt. Economist Steve Horowitz notes that this would wipe out our financial system. So why do Morgan Stanley’s Stephen Roach and Harvard’s Kenneth Rogoff say this is a good idea? They are joined by the confused Ellen [...]