The Debt Shackles Return
The only sustainable debt burden is one that can be managed even during cyclical downturns. Yet governments continue to repeat the same mistakes, treating debt as a boon for long-term growth, rather than what it is: a source of massive long-term risks.
https://prosyn.org/CYNDNWL
MUNICH – Global growth is accelerating. But before we break out the champagne, we should acknowledge the long-term risks to sustained expansion posed by rising private and public debt.