Do We Really Borrow From Only Ourselves? Does the Debt/GDP Ratio Means Anything?
June 15, 2018QUESTION: Mr. Armstrong, the famous economist Paul Krugman says that debt is ok when we owe it to ourselves. He calls it “deficit scolding” as he wrote in the New York Times. Would you like to comment on this statement? GH ANSWER: Paul Krugman seems to lack any historical understanding of how nations rise and fall. […]