Chartbook 481 How stable is the profit dollar in an age of “speedball capitalism”? - Adam Tooze | Substack
Chartbook 481 How stable is the profit dollar in an age of “speedball capitalism”? - Adam Tooze | Substack
Source: Adam Tooze | Substack
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DW NOTE
Adam Tooze coins "speedball capitalism" to describe an economy running on fiscal stimulus and monetary tightening simultaneously — the policy equivalent of uppers and downers at once. He's asking whether corporate profit margins can hold when government spending is the primary demand driver and central banks are actively trying to slow private credit. The answer matters because if profits compress while public deficits widen, someone has to absorb the loss — and it won't be the bondholders.