It’s a strange world

Interesting read recommended by Mankiw on debt measurements. Who would have thought fiscal gaps and official debt statistics paint such a different picture?

“It’s a strange word in which a totally bankrupt country — the U.S. — can borrow at extremely low cost while printing money at astronomical rates. It’s a strange world in which policymakers can’t distinguish economic from linguistic measures of fiscal sustainability. And it’s a strange world in which Italy, the developed world’s most fiscally responsible country, has to be lectured on fiscal prudence by countries in far worse fiscal shape.”

http://www.pbs.org/newshour/making-sense/whats-the-most-fiscally-responsible-country-in-the-developed-world/

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It’s a strange world

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