tag:blogger.com,1999:blog-4900303239154048192.post2091490109301632264..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Paul Krugman Puzzles Greg MankiwUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4900303239154048192.post-61741787780652980842012-12-26T17:38:18.891-05:002012-12-26T17:38:18.891-05:00I agree totally with Joshua's comment. It'...I agree totally with Joshua's comment. It's clear that Krugman has evolved to the MMT position, without giving credit where due. But he's light years ahead of Mankiw, who apparently has no idea what's going on...Detroit Danhttps://www.blogger.com/profile/03718490473585220856noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-40018395761999752092012-12-24T12:22:53.802-05:002012-12-24T12:22:53.802-05:00Given my biases, I would like to think Krugman has...Given my biases, I would like to think Krugman has actually changed his view about how the bond market works. Countries with floating, fiat currencies need not worry about bond vigilantes because default cannot be forced upon them. The real fear of spiraling debt and expenditures is inflation (and potentially inefficiency that suppresses growth or spurs inequality).<br /><br />From this perspective, Japan's extremely low yields despite debt/GDP over 200% makes perfect sense. Only time will tell if Krugman really holds this view or not.Anonymoushttps://www.blogger.com/profile/00720722626969395929noreply@blogger.com