An 130-year-old theory from an obscure Swedish economist explains why investors will keep funding America’s near-$40 trillion pile of debt

Knut Wicksell's 130-year-old economic theory explains why U.S. debt remains low-cost despite reaching $39.77 trillion, as investors accept lower returns due to confidence in America's economy and the dollar's global role. Deutsche Bank attributes this to the U.S. tech sector's high returns, which offset deficit risks, though concerns persist about long-term sustainability.