Since Earth is not borrowing money from Mars, does the debt explosion really matter, or is it just an accounting device?
To me, this has always been the most crucial question to any discussino of "debt," but I don't believe the article actually answered it[1].
Perhaps more to the point, I don't believe I've encountered a concise explanation as to how debt, particularly sovereign debt, affects the real[2] worldwide economy.
Would a country go to war over a sovereign default?
[1] The section heading is "Why It Matters," so it's not really hiding that it's begging the question.
[2] i.e. human behavior as it applies to production and trade
To me, this has always been the most crucial question to any discussino of "debt," but I don't believe the article actually answered it[1].
Perhaps more to the point, I don't believe I've encountered a concise explanation as to how debt, particularly sovereign debt, affects the real[2] worldwide economy.
Would a country go to war over a sovereign default?
[1] The section heading is "Why It Matters," so it's not really hiding that it's begging the question.
[2] i.e. human behavior as it applies to production and trade