Krugman’s blog, 4/14/16

There was one post yesterday, “No Time for Credibility:”

So, here we are with near-zero real interest rates on long-term government bonds; with a desperate need for infrastructure investment; with strong reason to believe that deficit spending in the current environment would actually improve the long-run fiscal picture, because the interest burden would be so low and higher growth would raise future revenues.

And Time magazine decides that now is a good time to devote its cover to dire prophecies about looming US insolvency, with the lead article by James Grant — signatory of the infamous 2010 letterwarning Ben Bernanke that his policies would cause inflation and debase the dollar, crusader for a return to the gold standard.

Was Time purchased by Zero Hedge when I wasn’t looking? Who thought this was a great way to make the magazine relevant and credible right now?

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