Correspondent, Construction Products; Automation Survey; Hedging Tool

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Posted To: Pipeline Press

This morning I find myself in Albany for the NYMBA conference and there is a lot of talk about the political situation, debt levels, and interest rates. It is possible that a country like the U.S. can have a healthy economy and debt at the same time. The problem is “too much” debt, meaning a level that makes big investors unwilling to buy our treasuries at reasonable interest rates. To the surprise of many economists, the U.S. has been able to take on vast debt without losing investor confidence. There is even a school of thought among progressives who support the Green New Deal that the U.S. can and should expand deficits titled Modern Monetary Theory . In the long term, it is hard to believe that increasing our debt will prove helpful. But many political leaders don’t think...(read more)

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