Bond investors want growth much like equity investors, and to the extent that too much austerity leads to recession or stagnation then credit spreads widen out - even if a country can print its own currency and write its own cheques.
After the navy, I transferred to Harvard and finished there. I was there the spring term of 1951 and I stayed through the summer term and a whole other year, so I was able to do two years in a little less than a year and a half.
The Lord called me to plant a church.
For un-subscribe please check the mail footer.