And, crucially, the housing bubble was an international phenomenon: Spain had a bigger bubble than we did, followed by a worse slump. Elizabeth Warren argues that Bloomberg’s embrace of a false right-wing narrative about the financial crisis should disqualify him for the Democratic nomination. But I’d be willing to cut him some slack if he’d admit that he was taken in by right-wing disinformation. At the same time that Bloomberg is being called out on his housing bubble zombie, Pete Buttigieg is facing justified criticism for buying into another zombie idea — the obsession with government debt. At this point, however, the debt obsession has been thoroughly debunked by both economic research and experience.

Source: International New York Times February 17, 2020 22:07 UTC