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


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...


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?