Monday, August 9, 2010
Dedicated to young mr HPW!
.... and i wasnt even going to post it... aw well i must have got all emotional to do it. Whether in/de is correct balance is always good... IMHO. The in/deflation discussion still very much alive and nothing kicked in the gutter or anywhere else for that matter. "Most persistent and pernicious of the inflationistsâ€™ delusions is that the Federal Reserve can and will do â€œwhatever it takesâ€ to avoid deflation. But to believe that easing has not worked so far because the Fed has not eased enough is to imply that some further quantity of easing will do the trick. This kind of thinking, most notably by New York Times columnist Paul Krugman, is beyond dumb, but when it infects those on the left side of the Congressional aisle it can be downright dangerous. Tea Partiers to the rescue? "