Name a period in history where exponentially growing national debt was eventually paid off in full, because a nation’s financial growth was so excessive as a result of the theoretical fruits of modern Keynesian economic policy.
We’re still waiting, but don’t expect it to happen anytime soon, or at all.
Meanwhile, the amount of times markets have naturally tried to correct themselves to resolve today’s massive economic imbalances are numerous throughout history. For today’s Keynesian based economies, I know what I’m waiting for, and it’s coming soon. Interest rate manipulation to save the inevitable crash will only serve to kick that can further down the road.
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