I am just saying that a surplus sufficient to repay debt as it falls due is the only way not to be beholden to the bond market because you simply don't need their money. Of course, even reducing… (View Post)

Sure, we don't really need to eliminate the deficit (which would be hard enough), we actually need to run a surplus sufficiently large to repay debt as it falls due. Only then can we escape the … (View Post)

I thought that the betting markets probably had a lot of insider knowledge that was not available to the public and so might give a better idea of what was likely to happen*. I am not sure when but I… (View Post)

UK 10 year old gilt at 5.197 already. Add anything more to that for Rayner and borrowing at all will be ruinously expensive requiring savage cuts in the deficit, either by huge tax increases or big s… (View Post)

It's absolutely dead anyway. We can no longer trust them. The reputation of the US built up over 80 years post WW2 has been destroyed in not much more than a year. (View Post)