Green Shoots? Velocity Crash!
"There is strong evidence that the Keynesian multiplier does not exist when debt levels are already too high. In fact, America and the world are inching closer to what economists Carmen Reinhart and Ken Rogoff describe as an indeterminate yet real point where an ever-increasing debt burdentriggers creditor revulsion, forcing a debtor nation into austerity, outright default or sky-high interest rates."