Paul Krugman

@paulkrugman ↗

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Last Checked Oct. 16, 2022

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Sat Sep 24 12:45:35 +0000 2022

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Paul Krugman @paulkrugman

But the Bank of England is independent these days, and unlikely to monetize debt. And despite everything, UK debt isn't *that* high by long-run standards 8/ https://t.co/NxdUmpoPL6 — PolitiTweet.org

Posted Sept. 24, 2022

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Paul Krugman @paulkrugman

The other way you can have a currency crisis is if markets believe that you can't or won't service your public debt, and will monetize it instead; this was the story behind the 1926 franc crisis and, I think, the 1976 sterling crisis (which needs revisiting) 7/ — PolitiTweet.org

Posted Sept. 24, 2022

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Paul Krugman @paulkrugman

So why did zombie Reaganomics produce currency depreciation, not the excessively *strong* currency caused by the original version? Well, it did say bad things about the competence of the new government 9/ https://t.co/tzDi7XgDMD — PolitiTweet.org

The problem isn't that the UK budget was inflationary, its that it was moronic. And a small open economy that seems… https://t.co/2YYrHcwZFn

Posted Sept. 24, 2022