Sunday, October 18, 2009
Will and Krugman
Was fun to watch George Will & Paul Krugman bristle while trying not to interrupt the other on ABC this morning. Will was looking down and tapping his fingers nervously at Krugman, then Krugman looked like he was about to rip of his own beard while Will decried the possibility that the Chinese would own our debt. PK's argument was that that's not how they were going to pay for it. The bigger question is, if the Chinese buy US bonds to finance health care, for whom is that worse in the long run? If inflation shoots up and the dollar crashes (like GW himself has predicted) this would clearly ruin the Chinese!