Re: [Pen-l] Vulnerable logic in Dean Baker's argument?

To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] Vulnerable logic in Dean Baker's argument?
From: Doug Henwood <dhenwood@xxxxxxxxx>
Date: Mon, 18 May 2009 13:16:19 -0400


On May 18, 2009, at 1:10 PM, raghu wrote:

On Mon, May 18, 2009 at 8:18 AM, Doug Henwood <dhenwood@xxxxxxxxx> wrote:
What we do today does have an effect on our descendants.
Yes, but not through the mechanism of bonds. Bonds represent
redistribution of wealth between classes not between generations, no?

Like I said in the part you don't quote, the level of debt that we contract will matter to our descendants. A debt burden of 60% of GDP with debt service at 2% is a lot different from a debt burden of 120% with debt service at 6%.

Doug
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Thread context:
- Re: [Pen-l] Vulnerable logic in Dean Baker's argument?, (continued)
  - Re: [Pen-l] Vulnerable logic in Dean Baker's argument?, Robert Naiman Mon 18 May 2009, 14:31 GMT
  - Re: [Pen-l] Vulnerable logic in Dean Baker's argument?, Jim Devine Mon 18 May 2009, 14:45 GMT
  - Re: [Pen-l] Vulnerable logic in Dean Baker's argument?, Doug Henwood Mon 18 May 2009, 14:45 GMT
    - Re: [Pen-l] Vulnerable logic in Dean Baker's argument?, raghu Mon 18 May 2009, 16:37 GMT
      
      Re: [Pen-l] Vulnerable logic in Dean Baker's argument?, Doug Henwood Mon 18 May 2009, 16:44 GMT
      
      Re: [Pen-l] Vulnerable logic in Dean Baker's argument?, raghu Mon 18 May 2009, 17:21 GMT
      
      Re: [Pen-l] Vulnerable logic in Dean Baker's argument?, Laurent GUERBY Tue 19 May 2009, 09:05 GMT
      
      RE: [Pen-l] Vulnerable logic in Dean Baker's argument?, Max B. Sawicky Mon 18 May 2009, 17:11 GMT
      
      Re: [Pen-l] Vulnerable logic in Dean Baker's argument?, Doug Henwood Mon 18 May 2009, 17:26 GMT

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