15 Aug 2011

Sovereign Debt Crisis Bask

All Posts 17 Comments

I’m gathering reading materials for my upcoming quickie course on the sovereign debt crisis. Topics include the housing bubble (from a global perspective–i.e. which countries were hit and by how much), the formation of the euro (and theory of optimal currency area), the fiscal situation in various countries, and the chronology of interventions. If you’ve come across any particularly good summary articles please post them in the comments and maybe I’ll include them on the syllabus.

17 Responses to “Sovereign Debt Crisis Bask”

  1. David S. says:
    at

    Your only hope of being correct or even relevant is to cut and paste from the Keynesians and quasi-monetarists you have the ignorance to criticize. Hence, it’s safe to say your pseudo-course at that pretend college you blather on at will be even less worthwhile than courses at the Trump Institute.

    • Major_Freedom says:
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      Your only hope of being correct or even relevant is to cut and paste from the Austrians you have the ignorance to criticize. Hence, it’s safe to say your pseudo-…….oh that’s right, you’re not teaching anyone anything because you’re an idiot, whereas Dr. Robert Murphy is teaching courses to students who choose to enroll in his lectures.

      Your only hope of contributing to the human race is to cease existing and thus cease dragging it down.

      • bobmurphy says:
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        MF said to David S: “Your only hope of contributing to the human race is to cease existing and thus cease dragging it down.”

        MF, what if we can convert David S to Austro-libertarianism? He might be the greatest champion of all time. Remember Hayek used to be a socialist and Saul used to persecute Christians. (Though you probably don’t want to judge Saul on that score until all the facts are in.)

        • Major_Freedom says:
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          If you can succeed in that respect, then my hats off to you good sir.

    • bobmurphy says:
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      David S, okay, I’ve got some stuff from Krugman on the euro (really), but I don’t have anything from the quasi-monetarists. If you recommend something, it may very well end up on the syllabus.

  2. Major_Freedom says:
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    I think this article might be relevant and useful:

    http://georgereismansblog.blogspot.com/2009/07/credit-expansion-crisis-and-myth-of.html

    Reisman refutes the myth that the global real estate bubble was caused by a global “savings glut.”

  3. MamMoTh says:
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    First and foremost, anything from the MMT camp to make clear that a country with its own floating currency that understands this fact faces no sovereign debt crisis (mention Japan to make your point).

    • gienek says:
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      Do you work for Lexmark by any chance?

      • MamMoTh says:
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        No, I’m a coconut producer.

        • Major_Freedom says:
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          Because you’re not allowed to be a money producer.

          • MamMoTh says:
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            When I am king I will impose a head tax payable in coconuts which will turn them into money apart from making the heads of those with not enough coconuts to roll.

            • bobmurphy says:
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              MamMoTh, I have to think that my blog is as fun for you to read, as Krugman’s is for me. Seriously, I must make the world a better place for you.

              • MamMoTh says:
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                You do Bob. And your comments section is much more funny than Krugman’s.

            • Major_Freedom says:
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              An MMTer who has fantastical delusions of being a dictator, but lacks the desired power so as to live vicariously through the state…

              Shocking…

  4. Zack A says:
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    Any nation with a printing press never can never have a sovereign debt problem. Right?

    If creditors are aware the nation to which they are lending can print money, there is never a problem, nor should any nation be hesitant to lend to a nation that has the ability to print money electronically. Never a question of solvency.

    Printing press=AAA bond rating. Forever and always. Right? If you can print money you can never default. Just go on the computer and press the buttons.

    These MMT’ers are hilarious. Seriously. Sometimes I wonder if they are actually serious.

    For a good laugh, check this out.

    http://moslereconomics.com/2011/08/15/mmt-to-ryan-apologize-now-about-the-us-being-the-next-greece/