I was recently asked to write for Forbes on fairly regular basis. My first column, dealing with the consequences of the US pension deficit, is here.
I wrote it for this blog this morning, and it got waylaid into Forbes as the day progressed.
There are worse things that could happen to a blog, I guess.
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We know we can’t afford our current lifestyles–we spend too much, save too little and run government deficits, all paid for right now by China.
agree with all this but struggling to reconcile your negative implication re ”run govt. deficits” with much of your macro economic proto-Keynesian economic stand-point which is to run up deficits ie borrow our way out of recession – or am I missing something?
Keynesianism does not say run deficist for good
It also says put cash aside in good times
Brown missed that bit
But so did everyone else influenced by neoliberlism
Keynesianism says spend your way back to full employment and the debt will repay itself
No conflict at all
The deficit the US in particular has was over consumption – something quite different from borrowing to get out of a recession