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← Germany's crisis is too deep to be solved by conventional tax, spending, or regulatory adjustments.
17 connected korrents · 17 moments on record from 3 Nov 2008 to 11 Sept 2026.
Everything filed under interest rates
interest rates
Everything filed under fiscal policy
fiscal policy
Everything filed under government
government
Everything filed under public debt
public debt
Everything filed under Europe
Europe Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: Germany's crisis is too deep to be solved by conventional tax, spending, or regulatory adjustments. Germany's crisis is too deep to be solved by conventional tax, spending, or regulatory adjustments. Last stated a week ago
11 Sept 2026
AT
Adam Tooze — holds since 2026-09-11 — tap for who they are
Same subject: Germany's constitutional debt brake will not be reformed. — tap to centre the map on it Germany's constitutional debt brake will not be reformed. Last stated 2 years ago
4 Mar 2025
FM
Friedrich Merz — holds since 2025-02-25 — tap for who they are
FM
Friedrich Merz — no longer holds since 2025-03-04 — tap for who they are
Same subject: Germany will provide whatever money the Bundeswehr needs to become the strongest conventional army in Europe. — tap to centre the map on it Germany will provide whatever money the Bundeswehr needs to become the strongest conventional army in Europe. Last stated a year ago
14 May 2025
FM
Friedrich Merz — holds since 2025-05-14 — tap for who they are
Same subject: The former East Germany is no longer a deeply economically depressed region. — tap to centre the map on it The former East Germany is no longer a deeply economically depressed region. Last stated 2 weeks ago
7 Sept 2026
PK
Paul Krugman — holds since 2026-09-07 — tap for who they are
Same subject: The real danger of high government debt is the policy errors it provokes, not a debt crisis. — tap to centre the map on it The real danger of high government debt is the policy errors it provokes, not a debt crisis. Last stated 3 weeks ago
28 Aug 2026
BC
Ben Carlson — holds since 2026-08-28 — tap for who they are
Same subject: A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement. — tap to centre the map on it A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement. Last stated a month ago
21 Aug 2026
RD
Ray Dalio — holds since 2026-08-21 — tap for who they are
Same subject: What keeps poor countries poor is political and economic instability, not a shortage of well-designed programmes. — tap to centre the map on it What keeps poor countries poor is political and economic instability, not a shortage of well-designed programmes. Last stated a year ago
14 Jul 2025
NS
Noah Smith — holds since 2025-07-14 — tap for who they are
CB
Chris Blattman — holds since 2013-06-27 — tap for who they are
Same subject: Seeking special tax treatment that could not sustainably be extended to everyone is morally wrong. — tap to centre the map on it Seeking special tax treatment that could not sustainably be extended to everyone is morally wrong. Last stated 4 months ago
9 May 2026
JB
Josh Barro — holds since 2026-05-09 — tap for who they are
Same subject: Free markets alone cannot solve environmental and energy problems; legislation, regulation, and taxation are also necessary. — tap to centre the map on it Free markets alone cannot solve environmental and energy problems; legislation, regulation, and taxation are also necessary. Last stated 18 years ago
3 Nov 2008
DM
David MacKay — holds since 2008-11-03 — tap for who they are
Same subject: A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it. — tap to centre the map on it A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it. Last stated a year ago
16 Jul 2025
JD
Jamie Dimon — holds since 2025-07-16 — tap for who they are
Same subject: A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output. — tap to centre the map on it A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A new monetary network with its own unit can only bootstrap from zero to mass adoption through a period of upward price volatility. — tap to centre the map on it A new monetary network with its own unit can only bootstrap from zero to mass adoption through a period of upward price volatility. Last stated a year ago
6 Jul 2025
LA
Lyn Alden — holds since 2025-07-06 — tap for who they are
Same subject: Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them. — tap to centre the map on it Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them. Last stated 16 years ago
6 Sept 2010
SS
Scott Sumner — holds since 2010-09-05 — tap for who they are
SS
Scott Sumner — no longer holds since 2010-09-06 — tap for who they are
Same subject: A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. — tap to centre the map on it A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government. — tap to centre the map on it Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Automatic fiscal stabilizers give fiscal policy an advantage over monetary policy in stabilizing output because they act faster. — tap to centre the map on it Automatic fiscal stabilizers give fiscal policy an advantage over monetary policy in stabilizing output because they act faster. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Fiscal multipliers vary across time and place but are generally nonzero, positive for spending, negative for taxes, and larger when monetary policy cannot offset them. — tap to centre the map on it Fiscal multipliers vary across time and place but are generally nonzero, positive for spending, negative for taxes, and larger when monetary policy cannot offset them. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Friedman's universal minimum income went nowhere precisely because it was pure and free of moral judgment, which made it beautiful and politically impossible. — tap to centre the map on it Friedman's universal minimum income went nowhere precisely because it was pure and free of moral judgment, which made it beautiful and politically impossible. Last stated 2 years ago
19 Jan 2025
JB
Jennifer Burns — holds since 2025-01-19 — tap for who they are
At the centre
Germany's crisis is too deep to be solved by conventional tax, spending, or regulatory adjustments.
Holds Read this korrent →
Germany's constitutional debt brake will not be reformed.
No longer holds
Germany will provide whatever money the Bundeswehr needs to become the strongest conventional army in Europe.
Holds
The former East Germany is no longer a deeply economically depressed region.
Holds
The real danger of high government debt is the policy errors it provokes, not a debt crisis.
Holds
A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement.
Holds
What keeps poor countries poor is political and economic instability, not a shortage of well-designed programmes.
Holds
Seeking special tax treatment that could not sustainably be extended to everyone is morally wrong.
Holds
Free markets alone cannot solve environmental and energy problems; legislation, regulation, and taxation are also necessary.
Holds
A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it.
Holds
A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output.
Holds
A new monetary network with its own unit can only bootstrap from zero to mass adoption through a period of upward price volatility.
Holds
Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them.
No longer holds
A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate.
Holds
Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government.
Holds
Automatic fiscal stabilizers give fiscal policy an advantage over monetary policy in stabilizing output because they act faster.
Holds
Fiscal multipliers vary across time and place but are generally nonzero, positive for spending, negative for taxes, and larger when monetary policy cannot offset them.
Holds
Friedman's universal minimum income went nowhere precisely because it was pure and free of moral judgment, which made it beautiful and politically impossible.
Holds