Few market commentaries have been as widely cited as the Reinhart and Rogoff analysis regarding the fiscal situation on the United States and its imminent debt crisis. In “This Time Is Different”, Reinhart and Rogoff make a multitude of illogical comparisons when discussing the US financial situation. In this must read paper, Yeva Nersisyan & L. Randall Wray bust one of the most popularly cited myths of recent years (the paper is an oldie, but a goodie):
Source: Levy Institute
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