Imagine this logic applied to public debt.
California defaults on its debt, just this once, and promises never to do it again. Proponents say it will keep borrowing at the same rate as before.
Rauh would say: "No. Lenders won't believe you, so you'll pay a higher rate on everything you borrow from now on. That will cost us dearly in the long run."
Zucman would reply: "Fallacy. Why would lenders charge more unless you default again? And if you default again, you save money again... by virtue of, well, defaulting."
JUST IN: Apple deactivates iPhones stolen during the riots in France, displaying warnings that the devices are being tracked & authorities will be alerted.
@RTBFinfo
Câest comme dire que tâas moins de gĂąteau alors que tâen as plus dans la bouche, juste parce que le gĂąteau est plus gros. Faut arrĂȘter de nous prendre pour des cons.
Merci @francois_cp
Aux vĆux du PS, pour Paul Magnette, lâennemi câest l'(extrĂȘme) droite et il confirme sa candidature au poste de Premier Ministre https://t.co/gqjkoAopLA