Here is the support for that statement. By 1990, interest payments on the federal debt were consuming a little over 50% of federal tax receipts. Graph courtesy of St. Louis Fed.

The federal government by law is not permitted to pay interest on bonds by selling new bonds (Ponzi finance).

Is the debt itself a public good.

Talk about the proceeds, is this a good thing - War Bonds.

War (defense expenditures) and bonds (debt) are interlinked by incentives.

Once you understand that there is an alternative to bonds, then you understand that there is a alternative to war.

I am not saying that the Marshall plan totally explains the post WWII boom. I am saying that the trade balance graph that Paul provided does not include goods that were given to Europe and Japan post war.

US Foreign aid is not counted in the trade balance numbers.

Fine, except the goods that the United States.....GAVE....to European countries and Japan under the Marshall plan (and similar plans) are not captured in the graph that Paul is linking to.

True even for very good men.

"On top of all that, persistent inflation before Carter took office — inflation that was in part due to irresponsible policy under Richard Nixon — had made the economy vulnerable to wage-price spirals."

What a total crock of shit.

From 1973 to 1982, general inflation VASTLY outpaced wages.

Slow it down, I am starting to get motion sick :-)

Hmmm...the Twitter that Paul referenced was with regard to the value of the dollar in Forex markets, not with regard to foreign investment.

Hmmm...US interest rates are not far from their peak and yet inflation has come down.

The correlation to be drawn is that higher interest rates succeeded in bringing down inflation.

Instead be a political economy strategist.

The problem is simpler, find an alternative to war and bonds.

Clinton came the closest but he didn't consider this:

en.wikipedia.org/wiki/Ellsber...

Funny you included the years 2020 through 2023.

Fed funds rate and dollar index over same time period.

Covid stimulus wasn't the only policy going on.

As I see it, neither Democrats (Joe Biden) nor Republicans have provided an alternative to War & Bonds.

One form of collectivism (Socialism) is not better than another form (Fascism).

The alternative to war & bonds is peace & equity.

This:
musingsandrumblings.blogspot.com/2019/09/the-...