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July 13, 2012

Paul Krugman: 'I'm a Free Market, Welfare State Economist'

Not only is the title absurd, but Krugman passes the buck on the existence of the euro currency being the sole reason there's a debt crisis in Europe. Additionally, debt to GDP ratios were higher decades ago, but so was personal savings. People bought government bonds as a savings method. With less savings today, the debt to GDP ratios Krugman discusses cannot be supported and are not sustainable.

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