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birb_cromble  1d ago (text post)   459 thread views

Qeekly Finance Thread - 2026-09-12

A weekly thread to discuss financial matters - from personal all the way up to global.

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Over the course of this Qeek, I've been learning about the concept of fiscal dominance.

Fiscal dominance is a macroeconomic condition in which government fiscal pressures (high public debt and deficits) effectively dictate or constrain a country’s monetary policy. In a fiscally dominant regime, the central bank’s usual objective of controlling inflation becomes secondary to the Treasury’s budget financing needs, often leading the central bank to accommodate government borrowing by keeping interest rates low or buying government debt. This situation tends to create inflationary pressure

Do you think that we are starting to see that phenomenon in the United States? It seems like the symptoms of said event line up with what we're seeing: stubborn inflation, ripping equities, increasingly schizophrenic Treasury behavior. On the other hand, I'm always suspicious of something that fits a little too well.

If it is happening, what should private American citizens expect, other than high inflation? How would an Argentinian prepare for their fiscal dominance scenario if a time traveler warned them ahead of time?

How would an Argentinian prepare for their fiscal dominance scenario if a time traveler warned them ahead of time?

What Argentinians have always done is to move savings to a stronger currency (which for us was USD, but for you it could be Swiss Francs, Gold or maybe Swedish Krona if you're feeling frisky), but access to global capital markets had been constrained until relatively recently to all but the wealthiest, in reality globally diversified equities that have good pricing power will probably index and do fine, so... Buy Mastercard?

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