4 ms·

I'm sure the Greeks would be delighted to hear that more debt spending is the shot in the arm they've been looking for.

• mpweiher 11y ago
  Well, Greece has done austerity. And now their debt is higher than before. You don't do austerity in the middle of a depression.
• cjensen 11y ago
  He specifically calls out Greece as a special case. His comments are directed towards economies which are not like Greece.
  • pjkundert 11y ago
    Ah. The trusty "No True Scottsman" fallacy...
    • Amezarak 11y ago
      No, it's not a "No True Scotsman" fallacy. Greece, crucially, does not print its own currency and there was no real lender of last resort available at the time. It's been a trivial exercise for many years to point out that countries with even more debt than Greece are not going into debt crises for those exact reasons, with Japan as the almost canonical example with its still-low interest rates.