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|Description||Gonzalo Lira Strolling along the shores of the mainstream . . . Directory of Posts Subscribers Aphorisms Books Worth Reading Cartoons & Doodads Thursday, January 31, 2013 Mo’ Debt, Mo’ Problems (Mo’ Keynesian Cynicism) Christ, is Matt...|
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Gonzalo Lira.Gonzalo Lira. Strolling along the shores of the mainstream . . .
Directory of Posts. Subscribers. Aphorisms. Books Worth Reading. Cartoons & Doodads. Thursday, January 31, 2013.
Mo’ Debt, Mo’ Problems (Mo’ Keynesian Cynicism) Christ, is Matt Yglesias stupid. Stupid or high, or maybe he’s just a cynical bastard—I really can’t make up my mind.
The U.S. Debt: Notice a trend? [click to enlarge] He just wrote a piece in Slate proposing that the U.S. government go into even more debt, ballooning the Federal debt to even higher levels than the “mere” 120% of GDP it currently is.
His “reasoning”? To take advantage of the lower interest rates currently prevalent in the bond markets.
Prima facie, Yglesias sounds reasonable. As he rightly points out, [T]he inflation-adjusted yield on 10-year Treasury bonds was negative 0.56 percent. Savers, in other words, want to pay the American government for the privilege of safeguarding their money. For the longest-dated ...
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