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Open original source ↗I appreciate the mention. Great discussion.
I'd clarify that it's not just about what's "allowed." Rather, it's about what's mathematically baked in.
The US is pre-running potential recessions with 7% stimulatory deficits. That shapes potential recessions; doesn't outlaw them.
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I asked Simon Dixon why the stock market hasn't crashed with bond yields this high. He credits @LynAldenContact's framing of fiscal dominance, where a recession and falling stocks simply aren't allowed, so the only way through is growth by any means. Full interview streaming now.
natbrunell ↗