In a recent NY Times article, Paul Krugman agrees with Financial Times Columnist Martin Wolf, that either success or failure of recent debt financed government stimulus programs will cause the same result: sovereign debt default. Clearly, they are aware of no other tools in the economists’ toolbox.
Joe suggests there is one tool they don’t seem to be aware of: reform of the debt-based monetary system, along the lines suggested this week on Fox by Congressman Dennis Kucinich.
