GM! Would you rate public debt as a more important metric than private debt with regards to dollar strength?
Imo the biggest difference is that private debt bubble peaks are more disinflationary than people think. Money-printing offsets debt destruction.
Public debt bubble peaks are more inflationary, with rising fiscal deficits no longer offset by falling interest rates.
Public debt bubble peaks are more inflationary, with rising fiscal deficits no longer offset by falling interest rates.
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