- Investor worries that record debt levels will cause a disaster soon are likely misplaced
- Modern Monetary Theory’s assumption that we can have unlimited debt is also likely wrong
- Instead, we are simply in yet another credit boom and bust cycle that should disappoint believers in either myth
- Currently, we are in the boom phase of that cycle, which we think is likely to last another 3-5 years
- That boom phase is springing forward and accelerating, as we are more than 90% of the way to setting a monthly record for pension credit allocations less than halfway into the month
Sign up to access the rest of this content!
This content is not available to free users. Sign up for a paid account to access the rest of this content.