Sunday, September 30, 2012

Unfortunately, he was not referring to private debt

John Cochrane, Thursday, September 20, 2012:

I agree with the conclusion (high debt is likely to cause low growth).

1 comment:

Jazzbumpa said...

I was going to slog my way through Cochran's article, but I threw it in when he brought out the confidence fairy stuff.

Two points. 1) Having status as issuing the world's reserve currency puts a country in rather a special position. B) things are different at the ZIRB.