You don't even need debt to be held by foreigners for Krugman's take to be wrong. Back when the blogosphere was great, there was a massive debate about this topic and Krugman's side lost, even in theory.
-
-
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Twitter is physicists getting owned on biology and economists getting owned on economics, and it's amazing.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Not to mention the tiny detail that the part of the "ourselves" who gets the benefits from incurring the debt and the part of the "ourselves" that will pay that debt don't overlap perfectly. Or much.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
The borrower is slave to the lender.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
We live in a globalist world. Of course it's to ourselves.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
I am constantly amazed at how US politics render Krugman - a genuinely brilliant economist - incapable of dealing with the most basic economic concepts.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
On a positive note, we control the printing press. They have debt denominated in dollars. Brrrrrrrrr.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.