HPI: Fiscal Dominance Could Challenge Ability To Deliver Attractive Real Returns - Seeking Alpha
HPI: Fiscal Dominance Could Challenge Ability To Deliver Attractive Real Returns - Seeking Alpha
Source: Seeking Alpha
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DW NOTE
HPI's warning about fiscal dominance arrives six years late. The US ran a $1.37 trillion deficit in nine months while holding rates at 3.65% — that's not a risk to real returns, it's the elimination of them. When the state finances itself by debasing the unit of account, "attractive real returns" become a category error.