Twin deficit terrorists Ferguson and Buiter
June 14, 2009 at 19:34 PM EDT
[Skip to the end] This is the exact same line Niall Ferguson is spewing. He also says the two choices are inflating or defaulting. The inflation would be from too much aggregate demand and a too small output gap. That would mean that fatefull day would be an economy with maybe 4% unemployment and 90%+ capacity utilization and an [...]