I agree with basically everything he says in his article, but I’ll add another thought, derivative of his
“if the US has an easier time accepting large deficit spending like some authors research proclaims, it’s certainly small in effect”
This means, unlike what most people in this very sub believe, that the US debt to gdp ratio does matter about as much as French, Spanish or Japanese debt to gdp ratios and that it is dangerous how deficitary the US has been
The US doesn’t become immune to large ratios of debt to gdp, even though the global financial markets and the US goverment itself believe it to be the case, and the situation of debt in the US should be treated with more urgency than any other western country, besides France who is in a similar situation
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Paul Krugman returning to his globalist roots 😌
I agree with basically everything he says in his article, but I’ll add another thought, derivative of his
“if the US has an easier time accepting large deficit spending like some authors research proclaims, it’s certainly small in effect”
This means, unlike what most people in this very sub believe, that the US debt to gdp ratio does matter about as much as French, Spanish or Japanese debt to gdp ratios and that it is dangerous how deficitary the US has been
The US doesn’t become immune to large ratios of debt to gdp, even though the global financial markets and the US goverment itself believe it to be the case, and the situation of debt in the US should be treated with more urgency than any other western country, besides France who is in a similar situation