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Tag Archives: public debt

Nothing is in walking distance

I recently moved moved house from inner Western Melbourne (Seddon) to outer Western Melbourne (Truganina), hence my absence from blogging. The most direct way to the nice new house (and it is a nice new house, a vast improvement on the decrepit dump my housemate and I were previously renting) is along a road which has […]

They did it again

One of my basic analytical principles is that things reveal their nature in history (including the history that has not happened yet — that is, what has happened is not the sum of possibilities). If one wishes to understand current events, then cultivate a sense of history for the past is the cause of the […]

A fight over money

Over the last twelve months or so, the blogosphere saw another round of a long-standing fight over money. Not over getting more money (though that is an element too), but its nature and history. A story about debt The aforementioned tussle has been provoked by the publication of David Graeber’s intriguing, but seriously flawed, book Debt: The […]

Debt and boom

The slogan for this post is: don’t think debt, think safe assets. (This post is partly provoked by this post by Paul Krugman responded to by Scott Sumner and by Marcus Nunes.) In my Debt, Doom and Despair post I noted that a hugely debt-burdened post-Napoleonic Wars UK (where the national public debt was probably about […]

Debt, doom and despair

It is a matter of some comment that the public debt burden of the United States has recently increased somewhat. Upward, ever upward And that this surge in debt has come from increased spending A more elevated state More than from falling revenues. Buy now, pay later (The “negative deficits” in Truman’s and Clinton’s second terms meant the US […]

Don’t mention the A-word

The Eurozone, the US, Japan and the UK are all suffering prolonged economic stagnation. [You can see how serious it is in the US here.] It is sensible to suggest that they are doing something (or perhaps many things) wrong and need to change policy. What is not sensible is ignoring a developed world economy […]