The ignominiously fast downfall of U.K. Prime Minister Liz Truss is a warning sign for the U.S. and policymakers around the world: Deficits matter again.
Why it matters: Investors who are selling bonds in order to register their disapproval of policy choices are calling the shots on Wall Street and in the global halls of government. And as inflation and debt both soar, the market is much less forgiving of grandiose taxation and spending plans.
