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← Public investment cannot be assumed to be automatically financeable by debt merely because it has high social returns.
17 connected korrents · 15 moments from 5 Sept 2010 to 15 Oct 2026.
Everything filed under public debt
public debt
Everything filed under interest rates
interest rates
Everything filed under fiscal policy
fiscal policy
Everything filed under government
government
Everything filed under sustainability
sustainability
Everything filed under AI and jobs
AI and jobs
Everything filed under value investing
value investing
Everything filed under quantitative easing
quantitative easing Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: Public investment cannot be assumed to be automatically financeable by debt merely because it has high social returns. Public investment cannot be assumed to be automatically financeable by debt merely because it has high social returns. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Believing that higher yields do not spare land would push investment away from the thing that actually protects wild habitat. — tap to centre the map on it Believing that higher yields do not spare land would push investment away from the thing that actually protects wild habitat. Last stated 3 years ago
13 Mar 2024
LB
Linus Blomqvist — holds since 2024-03-13 — tap for who they are
Same subject: An AI-caused recession requires the owners of capital to hit a hard ceiling on spending and then refuse to invest the rest, which is a very improbable combination. — tap to centre the map on it An AI-caused recession requires the owners of capital to hit a hard ceiling on spending and then refuse to invest the rest, which is a very improbable combination. Last stated 4 months ago
4 Jun 2026
AI
Alex Imas — holds since 2026-06-04 — tap for who they are
Same subject: The real danger of high government debt is the policy errors it provokes, not a debt crisis. — tap to centre the map on it The real danger of high government debt is the policy errors it provokes, not a debt crisis. Last stated 2 months ago
28 Aug 2026
BC
Ben Carlson — holds since 2026-08-28 — tap for who they are
Same subject: Quantitative rules are not a reliable tool for ensuring government debt sustainability. — tap to centre the map on it Quantitative rules are not a reliable tool for ensuring government debt sustainability. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost. — tap to centre the map on it When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost. Last stated 3 years ago
6 Nov 2023
OB
Olivier Blanchard — holds since 2019-02-11 — tap for who they are
OB
Olivier Blanchard — no longer holds since 2023-11-06 — tap for who they are
Same subject: A government-run solution should be accepted only once it is shown to be better than the market outcome it replaces. — tap to centre the map on it A government-run solution should be accepted only once it is shown to be better than the market outcome it replaces. Last stated 3 weeks ago
28 Sept 2026
RM
Roger Martin — holds since 2026-09-28 — tap for who they are
Same subject: America borrowed cheaply from the world and spent it on consumption rather than investment, exactly as Greece did. — tap to centre the map on it America borrowed cheaply from the world and spent it on consumption rather than investment, exactly as Greece did. Last stated 2 years ago
14 Apr 2025
JC
John H. Cochrane — holds since 2025-04-14 — tap for who they are
Same subject: An investor who never borrows against their securities can afford to think, because no fall in price can force them to sell. — tap to centre the map on it An investor who never borrows against their securities can afford to think, because no fall in price can force them to sell. Last stated 3 years ago
20 Feb 2024
BA
Bill Ackman — holds since 2024-02-20 — tap for who they are
Same subject: A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it. — tap to centre the map on it A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it. Last stated a year ago
16 Jul 2025
JD
Jamie Dimon — holds since 2025-07-16 — tap for who they are
Same subject: A Fed easing move being immediately followed by a sharp jump in long-term rates suggests the Federal Reserve has lost control over the narrative governing bond-market expectations. — tap to centre the map on it A Fed easing move being immediately followed by a sharp jump in long-term rates suggests the Federal Reserve has lost control over the narrative governing bond-market expectations. Last stated 3 days ago
15 Oct 2026
BD
Brad DeLong — holds since 2026-10-15 — tap for who they are
Same subject: A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output. — tap to centre the map on it A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A country should raise revenue by tariffing foreign countries rather than by taxing its own citizens. — tap to centre the map on it A country should raise revenue by tariffing foreign countries rather than by taxing its own citizens. Last stated 2 years ago
20 Jan 2025
DT
Donald Trump — holds since 2025-01-20 — tap for who they are
Same subject: Automatic fiscal stabilizers give fiscal policy an advantage over monetary policy in stabilizing output because they act faster. — tap to centre the map on it Automatic fiscal stabilizers give fiscal policy an advantage over monetary policy in stabilizing output because they act faster. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Fiscal multipliers vary across time and place but are generally nonzero, positive for spending, negative for taxes, and larger when monetary policy cannot offset them. — tap to centre the map on it Fiscal multipliers vary across time and place but are generally nonzero, positive for spending, negative for taxes, and larger when monetary policy cannot offset them. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them. — tap to centre the map on it Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them. Last stated 16 years ago
6 Sept 2010
SS
Scott Sumner — holds since 2010-09-05 — tap for who they are
SS
Scott Sumner — no longer holds since 2010-09-06 — tap for who they are
Same subject: Since the Global Financial Crisis, unconventional monetary policy has become the dominant force driving asset prices, more than fundamentals. — tap to centre the map on it Since the Global Financial Crisis, unconventional monetary policy has become the dominant force driving asset prices, more than fundamentals. Last stated 2 years ago
24 Sept 2024
LA
Lyn Alden — holds since 2024-09-24 — tap for who they are
Same subject: A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. — tap to centre the map on it A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
At the centre
Public investment cannot be assumed to be automatically financeable by debt merely because it has high social returns.
Holds Read this korrent →
Believing that higher yields do not spare land would push investment away from the thing that actually protects wild habitat.
Holds
An AI-caused recession requires the owners of capital to hit a hard ceiling on spending and then refuse to invest the rest, which is a very improbable combination.
Holds
The real danger of high government debt is the policy errors it provokes, not a debt crisis.
Holds
Quantitative rules are not a reliable tool for ensuring government debt sustainability.
Holds
When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost.
No longer holds
A government-run solution should be accepted only once it is shown to be better than the market outcome it replaces.
Holds
America borrowed cheaply from the world and spent it on consumption rather than investment, exactly as Greece did.
Holds
An investor who never borrows against their securities can afford to think, because no fall in price can force them to sell.
Holds
A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it.
Holds
A Fed easing move being immediately followed by a sharp jump in long-term rates suggests the Federal Reserve has lost control over the narrative governing bond-market expectations.
Holds
A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output.
Holds
A country should raise revenue by tariffing foreign countries rather than by taxing its own citizens.
Holds
Automatic fiscal stabilizers give fiscal policy an advantage over monetary policy in stabilizing output because they act faster.
Holds
Fiscal multipliers vary across time and place but are generally nonzero, positive for spending, negative for taxes, and larger when monetary policy cannot offset them.
Holds
Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them.
No longer holds
Since the Global Financial Crisis, unconventional monetary policy has become the dominant force driving asset prices, more than fundamentals.
Holds
A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate.
Holds