“To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude.”
– Thomas Jefferson
The Through Line: Debt of all flavors has ballooned over the past several decades thanks to low interest rates, willing lenders and increasingly sophisticated ways to borrow. This week’s piece focuses on sovereign (a.k.a. government) debt, the allure of deficit spending and why longer-term bonds don’t seem all that fussed (yet) about mounting national IOUs.
To read the full report, click here.
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