Probably not – but high and rising debt will boost CPI and interest rates, and stifle GDP growth and investors’ returns. In America’s real debt crisis (15 May), I wrote: “The choice is stark: Americans must either undertake radical budget reform and (public) debt deleveraging, … [Read more...] about Is Australia Risking a Debt Crisis?
Archives for May 2023
The exponential rise of debt is stifling its economic growth. It thus takes ever more dollars of debt to generate an extra $1 of GDP. In Fortune magazine on 22 November 1999, Warren Buffett recounted to Carol Loomis: “Someone once told me that New York has more lawyers than … [Read more...] about America’s real debt crisis