This week’s “Long Reads Sunday” reading is from macro analyst Lyn Alden and focuses on the inflation vs. deflation debate in historical context.
On this week’s “Long Reads Sunday,” NLW reads macro analyst Lyn Alden’s latest: “A Century of Fiscal and Monetary Policy: Inflation vs Deflation”
The article looks at:
- When monetary policy is effective versus when fiscal policy needs to take over
- How short-term debt cycles add up to long-term debt cycles that have very different remedies
- Why long-term debt cycles inevitably end in default or devaluation
- Why the conclusion of the last long-term debt cycle in the U.S. – the 1930s and 1940s – suggests that devaluation is the most likely outcome
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