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I wrote a blog post which is pretty good - even if I say so myself (it’s had great feedback) I agree with the fundamentals of this article but I fill in some mi

• oli5679 4y ago
  Your article is really interesting. I was wondering what you think about the type of maths Krugman does here [1]? “ This willingness of foreigners to hold American cash means, in effect, that the world has lent the U.S. a substantial amount of money — maybe on the order of $1 trillion — at zero interest. That’s not a big deal when interest rates are as low as they are now, but in the past it has been worth more — maybe as much as 0.25 percent of G.D.P.” What is the mechanism where being global reserve currency leads to greater benefits than what Paul calculated? 1. https://archive.ph/Zpp0a https://archive.ph/Zpp0a