Lyn Alden’s Latest: Why Currency Devaluation Is Inevitable

<p><span style="font-weight: 400;">On this week’s “Long Reads Sunday,” NLW reads macro analyst Lyn Alden’s latest:</span> <a href="https://www.lynalden.com/fiscal-and-monetary-policy/"><span style="font-weight: 400;"> “A Century of Fiscal and Monetary Policy: Inflation vs Deflation”</span></a></p> <p><span style="font-weight: 400;">The article looks at:</span></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">When monetary policy is effective versus when fiscal policy needs to take over </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">How short-term debt cycles add up to long-term debt cycles that have very different remedies</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Why long-term debt cycles inevitably end in default or devaluation </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Why the conclusion of the last long-term debt cycle in the U.S. – the 1930s and 1940s – suggests that devaluation is the most likely outcome</span></li> </ul>