"Worries about both "fiscal dominance" and "financial repression" have certainly gained ground"
this is chitter from
the bank for international settlements here
mark S take note
the interaction between fiscal/debt/monetary policies
can take an anti hi fi turn
how
by financial repression applied to debt policy
"a long period of large fiscal deficits and very high public debt-to-GDP ratios raises
the spectre of fiscal dominance"
this is in code sort of
what it unwinds to is this:
big deficits can force monetary policy into a slave position
either monetize the deficits
or the macro unit faces "real" debt suffocation
beautiful
full speed ahead fiscal frolickers
breal the fed like we hope the club med group break the ECB
