Meanwhile in Greece

Nothing we have to worry our little heads about because “the United States will never, ever turn into Greece.” Matthew O’Brien explains why, in this executive summary:

[Things are about to get very wonky below, so my editor forced me to sum up things here. The two main conclusions are: (1) For countries that can borrow in their own currency, like the U.S., higher debt doesn’t clearly lead to higher interest rates. (2) For countries that don’t control their currencies, like Greece, it’s borrowing too much from foreigners (NOT borrowing too much in general) that clearly leads to much higher borrowing costs …]

Okay then.

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