"At some point, holders of Treasury securities are going to
recognize that these unfunded liabilities are going to affect the
fiscal capabilities of the government and then you're going to have
the same situation that happened in Greece happening in the U.S.,"
says Jeffrey Rogers Hummel, who is a professor
of economics at San Jose State University and the author of
a recent paper on the consequences of a U.S. government
default. "In the short run it's going to be painful, but in the
long run it'll be a good thing."
Reason's Nick Gillespie sat down with Hummel at FreedomFest 2012 for a wide-ranging discussion on monetary policy, business cycle theory, the longevity of the welfare state, and why libertarians who rail against the Fed are like "generals fighting the last war."
Read more: http://reason.com/reasontv/2013/01/26/why-we-should-applaud-the-coming-collaps
Reason's Nick Gillespie sat down with Hummel at FreedomFest 2012 for a wide-ranging discussion on monetary policy, business cycle theory, the longevity of the welfare state, and why libertarians who rail against the Fed are like "generals fighting the last war."
Read more: http://reason.com/reasontv/2013/01/26/why-we-should-applaud-the-coming-collaps
No comments:
Post a Comment