Sunday, April 28, 2013

Art Shipman on Reinhart-Rogoff. What about private debt?


More on Reinhart & Rogoff. What about private debt?

Read the first post below before the second. They go together.

Art nails it.

The New Arthurian
Other Things Equal

3 comments:

Matt Franko said...

And there is no govt plan to provision that large 'net liability cohort' with balances to be able to pay the P&I... eventually it just shuts down...

rsp,

Roger Erickson said...

Well, the "government" plan is the one written for them by the 1%.

It proposes that the 1% own the public currency supply, and then lease fiat to the serfs .. er, "citizens". :(

Unknown said...

Private debt isn't important because that's how banks make money? And because economists must kow-tow to the banks?