Category Archives: Debt

US Facing Mounting Debt Amid Global Pandemic – ABC

Posted on July 21, 2020 by macromon

Good interview with Professor Barry Eichengreen of UC Berkeley, a good friend of GMM, and odds on favorite to be a Nobel laureate one day.   We agree with him that now is not the time to worry about the public … Continue reading →

Posted in Debt, Monetary Policy, Uncategorized | Tagged , | 1 Comment

The Clash Of Generations Is Here

Posted on June 30, 2019 by macromon

Don’t know if you caught the Democratic debate the other night, which featured Bernie and Joe, who could be the grandfathers of some of the younger candidates that were on stage, but it also confirmed the arrival of what we have … Continue reading →

Posted in Debt, Demographics, Uncategorized | Tagged , , | 13 Comments

QE’s Fading Legacy Moving Long Yields Higher

Posted on October 9, 2018 by macromon

Summary The legacy of the Fed’s QE is fading in the bond auctions For the first time in several years, SOMA did not and will not participate in any of the September or October Treasury auctions The Treasury has to … Continue reading →

Posted in Debt, Fed, Fiscal Policy, Interest Rates, Uncategorized | Tagged , , | 3 Comments

Who Is Funding The U.S. Budget Deficit?

Posted on September 20, 2018 by macromon

Here is a little teaser for our coming post on the Treasury market, which should be out tomorrow.  The latest data is from the Flow of Funds just posted by the Federal Reserve Board (FRB). Note,  less gold (Fed) and … Continue reading →

Posted in Capital Flows, Charts, Debt, Fiscal Policy, Politics, Uncategorized | Tagged , , , | Leave a comment

A World Awash In Sovereign Debt

Posted on May 28, 2018 by macromon

    Source:  World Economic Forum (WEF) If you add up all the money that national governments have borrowed, it tallies to a hefty $63 trillion.  – WEF  

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Alan Greenspan on Debt, Deficit, Tax Cuts – Bloomberg

Posted on April 20, 2018 by macromon

Excellent interview.   Upshot?  Inflation cometh. Apr.18 — Former Chairman of the Federal Reserve Alan Greenspan joined Bloomberg Television for a wide-ranging discussion about U.S. debt, the current rate hike path, Europe’s new direction and his reading assignment for the Republicans. … Continue reading →

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Europe’s Bad Debts Still Haunt The Euro Banks

Posted on February 14, 2018 by macromon

Looks like the new “Iron Curtain” in Europe is the non-performing loans (NPLs)  in each country’s banking system.    Greece and Italy stand out. For European banks, it’s a headache that just won’t go away: the 944 billion euros ($1.17 … Continue reading →

Posted in Banking, Debt, Euro, Uncategorized | Tagged , , | 2 Comments

COTD 2.0: Gross Public Debt – AEs vs EMs

Posted on October 30, 2017 by macromon

(COTD = Chart of the Day)

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The Sermon On The Mount[ain Of Debt]

Posted on September 22, 2017 by macromon

“Blessed are the young, for they shall inherit the national debt.” – President Herbert Hoover The Hoover administration thought there was no room and was ideologically opposed to fiscal expansion to stimulate aggregate demand.  Furthermore, Keynesian theory was not even … Continue reading →

Posted in Debt, Demographics, Uncategorized | Tagged , | 17 Comments

COTD: China Levers Up As ROW Does Opposite

Posted on September 19, 2017 by macromon

We knew that credit expansion is the mother’s milk of economic growth,  but even this chart surprised us.   The global nominal private non-financial debt level x/ China has been flat since 2008.   As in flat in nominal terms not as … Continue reading →

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