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Inflation wasn’t terrible in Korea and has likely already passed its peak. The decision to default on the bonds was clearly about servicing the debt and the imp
by halpmeh 4y ago
Inflation wasn’t terrible in Korea and has likely already passed its peak. The decision to default on the bonds was clearly about servicing the debt and the impact of debt payments on the government’s ability to create a budget.
- hn_throwaway_99 4y agoRegardless what MMT may say about deficit spending or taxation, it definitely doesn't say that it's OK to default on your loans.