posted by gut
Article in the WSJ how only 4 large developed countries have a higher debt burden than the US - Portugal, Italy, Greece and Japan.
Those economies are all doing gangbusters, so I'm sure more debt bodes well for the US!
Portugal, Italy and Greece all owe their debts in a currency they don’t control.
Japan owes it’s debts in its own currency and has turned things around since the start of Abenomics which showed rooseveltian resolve for higher inflation through fiscal and monetary stimulus despite large public treasury supplies.
What’s the result? 2.7% unemployment and rising GDP even in the face of an aging population and strict controls on immigration.
Not hard to see why Abe has easily won re-election twice since 2012.
Thankfully we have Republicans in the U.S. who ignore the deficit and don’t appoint people to the Fed who raise rates rapidly when they have power rather than following your preferred policies which would not Make America Great Again!