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I tripped across yet another indication that Planet Money fails to properly understand banking, this time in Episode 525 on a Babysitting Economy. ( The problem? )
Addendum, 4-4-2014: I meant to refer above to Krugman's ignorance of banking by citing this article on the topic, but failed to do so on the first go-round. My bad. It is a far better explanation of Krugman's ignorance than the other citation.
Addendum, 4-4-2014: I meant to refer above to Krugman's ignorance of banking by citing this article on the topic, but failed to do so on the first go-round. My bad. It is a far better explanation of Krugman's ignorance than the other citation.