• Real rates have declined almost everywhere in the developed world, the savings glut doesn’t turn into an investment glut.
• The result is excess capacity, slow growth and underperforming economies. How can this be turned around?
• If desired savings and investment can equate only at deeply negative real rate, higher inflation targets are one logical solution to get there, but not one without cost or risk.
• One of the risk is that we’ll finally get the long predicted currency debasement.

Currency Debasement | Seeking Alpha