After a somewhat acrimonious exchange with Rodger some time ago, Barry Ritholz now:
The US still controls its own currency and issues debt in that currency. The US government can always fund its spending, regardless of access to external debt markets or tax revenues, so long as it keeps inflation under control and doesn’t push aggregate spending beyond the economy’s capacity.
The euro zone isn’t like that. The governments of France, Italy, Spain, and Germany issue debt in the euro, a currency they do not control.
Read it at Monetary SoverigntyDoes Barry Ritholz finally get it? Did he “know” it all the time?
by Rodger Malclm Mitchell
My comment at Rodger's: "Krugman cannot be far behind."
Oops. Retraction required.
Peter points out in the comments that the article Rodger quotes from is by MMT-friendly John Carney of CNBC rather than Ritholtz. While Ritholtz is quoted on the article on another matter, it does not appear that he is associated with the the quotation above.
Thanks to Peter for catching that.