Bill Foster: “This is the problem with having a monetary union without a fiscal union.”

I think we should consider adopting this in the coming session of Congress, at least on a temporary basis.

I think it is my personal goal to die before we have another financial crisis, and then I will be doing my job well.

The good news is that macroeconomic policy is working as designed.

Frankly, when I read about this, it triggered my PTSD from the AIG situation with credit default swaps during the financial crisis.