If you read the May Monthly Bulletin of the European Central Bank, you could be forgiven for thinking that the ECB has simply missed the widely publicized April debate around the mistakes Carmen Reinhart and Ken Rogoff made in the data analysis which formed the basis for the 90%-debt-level-threshold story.Real-World Economics Review Blog
The ECB sticks to the discredited 90%-debt-threshold-story with pathetic new evidence
Norbert Häring
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Greek crisis and disorientation operations update
http://failedevolution.blogspot.gr/2013/06/greek-crisis-and-disorientation.html
promoted
Robert Mugabwe is smarter than Rogoff and Reinhart. Here’s why.
R&R, like many so called professional economists, assume that deficits have to be funded by more debt . The reality of course is that a deficit can accumulate as more monetary base. I.e. (amazing revelation this) a monetarily sovereign country can print any amount of money it wants. Mugabwe worked that out long ago. But seems R&R don’t get it.
If Mugabwe was put in charge of the economics department at Harvard and many other Western universities, the standard of teaching would be much improved.
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