good read, the one thing you didn’t seem to mention with respect to the inflexibility of dollar demand is defaults by foreign entities on dollar debt
My June newsletter is out now. It focuses on 3 misconceptions about US public debt and deficits:
https://www.lynalden.com/june-2025-newsletter/

good read, the one thing you didn’t seem to mention with respect to the inflexibility of dollar demand is defaults by foreign entities on dollar debt
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