For a parrot, that’s a no-brainer: the public-debt problem is not that governments have issued so much debt that investors have lost confidence, but that governments have issued too little debt given the enormous private-sector demand for safe places to park wealth.
Para un loro, es una obviedad: el problema de la deuda pública no es que los gobiernos hayan emitido tanta deuda que los inversores perdieron la confianza, sino que los gobiernos han emitido demasiado poca deuda dada la enorme demanda del sector privado de lugares seguros donde depositar la riqueza.