What I find interesting is that the economists tell us that country level borrowing isn't the same as household borrowing.
Which must be true otherwise why would governments be able to borrow more? Clearly they can devalue the currency and by extension the debt, however the money lenders will just factor that into their interest rates.
I like a country to be in debt, that way it will always be looking for efficiencies. The question is how much debt is acceptable?
Please keep in mind that this is being published by Bloomberg - not exactly a neutral party in the debate. They stand to lose a lot of money and even more clients if this were to happen.
Which must be true otherwise why would governments be able to borrow more? Clearly they can devalue the currency and by extension the debt, however the money lenders will just factor that into their interest rates.
I like a country to be in debt, that way it will always be looking for efficiencies. The question is how much debt is acceptable?