Apparently the UK government is about to do the impossible – run out of sterling – William Mitchell (opens in new tab)

Go back to the headlines in 2010 – – “Countries with debt over 90 percent of GDP enter a danger zone”. The 90 per cent threshold entered the media coverage as a result of a paper released by Harvard economists Ken Rogoff and Carmen Reinhart – Growth in a Time of Debt. That paper talked about “debt intolerance limits” arising from “sharply rising interest rates” – and then “painful fiscal adjustments” and “outright default”. It also talked about the “obvious connection” between inflation and h...