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"The tyranny of the mathematics is inescapable."? That's what Cliff Asness told me when we discussed the long-term U.S. debt picture. The U.S. needs to get control of its fiscal future or else big problems are sure to come. Asness runs AQR Capital Management, a hedge fund, and he has little patience for those who argue that current low long-term interests rates mean everything is hunky dory ("markets can be what geeks call non-linear"? you become Greece much quicker than you want"?) or that we can print money to solve the nation's balance sheet problems. Watch the video here.
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