The dearth of safe-assets era is over
Repost from 7-27-2021
“The safe-asset shortage is over. Should we worry?”
USAGOLD note: The short answer is “Yes. We should worry.” Why? Because the federal government is producing debt at an unprecedented scale at a time when demand is likely to diminish due to corrosive effects of inflation. In many ways, Schrager states the obvious, but for some, the ongoing bond glut will come as a revelation.