Despite gloomy predictions of a currency collapse in the lead up to the Great Recession, the US dollar has gained 37 percent in the last five years. Sandy Hager looks at why the dollar has defied expectations, arguing that it is supported by strong demand across the world for US public debt. This demand is supported, he writes, by […]
The vast majority of U.S. federal debt is now held by the richest households and largest companies, raising concerns about inequality and power.
The financial crisis has seen an explosion in government debt levels, and there is now increasing concern about both its sustainability and ownership by foreign investors. Sandy Hager takes a close look at an often overlooked aspect in current debates – the pattern of federal debt ownership by domestic stakeholders within the U.S. He argues that past decades have seen […]