Right now, the national debt continues to explode, because the government is borrowing money just to pay the interest on the money it borrowed before. This increased debt naturally results in even greater interest costs, forcing the government to borrow even more to fund those interest payments. And so on.
Gilt holders are often portrayed as the last line of defence for enforcing fiscal discipline and the sherpas along a political path of least drama. Their mob power is rarely more than theoretical.
1w ago
Underscored — save the words that stop you in your tracks.
