ECON350 Lecture Notes - Lecture 9: Hamiltonian System, James Carville, National Debt Of The United States
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Topic 6: the bond market (debt securities for lt project ) price & yield= - yield or ir benchmark ir to borrow in lr. Inflation high real re turn low need premium factor in inflation. Interest payment or bond yield high , use tax payer $ to pay bond investor. I used to think if there was reincarnation, i wanted to come back as the president or the pope or abaseball hitter. But now i want to come back as the bond market. Affect future wealth or ability to repay the debt. The hamiltonian system (build a economy after ar) Types of capital securities: beginnings and importance, according to ferguson (cid:523)(cid:884)008:(cid:888)(cid:887)(cid:524), (cid:494)the birth of the bond was the second great revolution in the ascent of money(cid:495). Fractional reserve-banking creation of money can be multiply with law of large number, keep 10% and lend the rest out.
