Paul Krugman

@paulkrugman ↗

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Last Checked Feb. 7, 2021

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Fri Jan 15 17:24:41 +0000 2021

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Paul Krugman @paulkrugman

r is the rate of interest on government debt; g the economy's growth rate. You can do either both nominal or real. Let's do nominal, and use CBO's estimate of potential GDP to smooth out business cycles 5/ https://t.co/bgLGnL6xFq — PolitiTweet.org

Posted Jan. 15, 2021

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Paul Krugman @paulkrugman

But that understates just how sustainable debt is. We don't care about the absolute level of debt; if we worry at all, we worry about the ratio of debt to GDP. And this does the opposite of snowballing — it shrinks, other things equal — if r<g. What? 4/ — PolitiTweet.org

Posted Jan. 15, 2021

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Paul Krugman @paulkrugman

So snowballization(TM) — I'm putting dibs on the term — has very rarely been an issue over the past 20 years, which Olivier Blanchard documented in much greater detail 6/ https://t.co/7Nh6WPmxkg — PolitiTweet.org

Posted Jan. 15, 2021