A "soft landing" is impossible unless the government cuts both taxes and government spending at the same time interest rates are rising. This won't happen, so get ready for a hard landing.
Original Article: "Crowding Out: The Fed May Be Killing the Private Sector to Save the Government"
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Daniel Lacalle has a PhD in Economics and is author of Escape from the Central Bank Trap, Life in the Financial Markets, and The Energy World Is Flat.
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