I am no anti-Krugman Krank, and think the Nobel-winning economist continues to write some of the best practically-minded economic commentary out there, but this sort of thing from him drives me mad.
S&P declared that US debt is no longer a safe investment; yet investors are piling into US debt, not out of it, driving the 10-year interest rate below 2.4%. This amounts to a massive market rejection of S&P’s concerns.
C’mon Paul. You know that’s utter bullshit.