Re:The U.S. Yield Curve Has Inverted
by pjc50 on Tuesday December 04, 2018 @04:56AM
(#18597977)
Exactly this. MMT works fine for self-denominated debt.
The classic element of currency crises and hyperinflation is always that you can't print foreign currency: if your trade+investment balance is bad enough, imported items become more and more scarce relative to local ones. This crucially includes oil.
The classic element of currency crises and hyperinflation is always that you can't print foreign currency: if your trade+investment balance is bad enough, imported items become more and more scarce relative to local ones. This crucially includes oil.