To investors, job creation is a second-order effect. Market participants care first about interest rates, exchange rates, bond prices and the one great factor that affects all three: the long-term solvency of a bond company called the U.S. government.

Amity Shlaes

Amity Shlaes

About Affects Bond Care Company Creation Effect Exchange Factor First Government Great Interest Interest Rates Investors Job Job Creation Long-Term Market Participants Prices Rates Three U.S. Government

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