tag:blogger.com,1999:blog-5235419263414453422.post8520059577588085533..comments2024-02-23T01:30:06.101-08:00Comments on Early Warning: Tuesday LinksStuart Stanifordhttp://www.blogger.com/profile/07182839827506265860noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5235419263414453422.post-43673654582426826982013-02-27T01:44:28.786-08:002013-02-27T01:44:28.786-08:00I think that monetarist Paul Krugman does NOT get ...I think that monetarist Paul Krugman does NOT get the crucial point - the problem is NOT austerity vs. expansion - rather it is about debt reduction. Credit expansion nor austerity can possibly reduce current debt - the only way it can be reduced is restructuring (defaulting). Of course, that leads to deflation. There is no other way out of excessive debt.<br /><br />AlexAlexander Achttps://www.blogger.com/profile/16845172528191878930noreply@blogger.com