Monday, December 26, 2011

"you can make a strong case that slow growth caused high debt" pk




we all know kenny jagoff's 90 % danger  line
    for  a rising pub-debt/gdp 

pk suggests   since 46 in the g7
causation runs the other way
and
since we've had  kalecki- keynes models
all these same years
even that isn't an iron law