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Life would be simpler if governments didn't issue bonds, but the finance sector, that complains when there are too many, would really complain if there were none at all.
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There’s only one reason a government issues bonds. It’s so their account with the central bank is not overdrawn. It’s only regulation that stops the central bank from saying a rapidly expanding deficit is fine. After all, it’s an indicator of how much government money has gone into supporting the private sector. But economists and finances see that as m…
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