Even then though, there is a giant global debit maturity wall from covid that needs refinancing at much higher interest rates that starts coming due in 2026 and 2027.
That is much sooner than fiscal dominance in the US. I suspect we can go to 100 trillion in debt at least without fiscal dominance. I suspect everyone will understand what fiscal dominance is in the 2030s though.
This liquidity problem from debt refinancing is much nearer.
That is much sooner than fiscal dominance in the US. I suspect we can go to 100 trillion in debt at least without fiscal dominance. I suspect everyone will understand what fiscal dominance is in the 2030s though.
This liquidity problem from debt refinancing is much nearer.