Op-ed
Published:
Trump, debt and the risk of an own goal
Summary:
The bond market can bring down governments and force shifts in economic policy, even in great powers, writes Ole Jacob Sending in this op-ed. « I wish I could come back as the bond market. You can intimidate everybody.» This is how James Carville, advisor to Bill Clinton, described the power wielded by the bond market. In 2025, Carville’s quote has regained relevance. The United States’ position as an economic hegemon is under pressure, not least due to a combination of high debt levels and the Trump administration’s irresponsible economic policies. The bond market may be the clearest example of how political power is grounded in economic power – particularly in a globalized world. The effects of this market are felt across all economies, including those of the great powers.
- Published year: 2025
- Full version: Read here
- Publisher: Dagens Næringsliv
- Language: Norwegian