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@ halalmoney
2025-05-15 11:07:46
“The thing that worries me more is the inability of most countries to balance their budgets. Historically, deficits and national debt shot up as a result of wars, then in peacetime governments ran surpluses to pull down the size of their debts. Growth helped, of course, so those surpluses did not have to be huge. And inflation helped, provided it didn’t push up borrowing costs too high.
Now, however, deficits and debt are rising and governments seem unfazed by that. The deficit is rising here, but the UK does not matter in global terms. The US is running a federal deficit of 6 per cent of GDP, and that is rising too – which absolutely does matter to the world.”
https://apple.news/A06QaKu3QTL-yp6VC3CKB6g