Interesting question actually. Given a level of inequality, how should debt be notionally 'distributed'? https://twitter.com/jamyerson/status/725357831466192896 …
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@vgr@JAMyerson Much evidence, including 20th century, of debt levels of 90% of GDP or more with no negative effects. So yeah, not 16th c. -
@vgr@JAMyerson Of course, to get that you have to understand that "national debt" in abstract is meaningless-- only meaningful as % of GDP. - 7 more replies
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