An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Obama's biggest mistakes have been on monetary policy. He could put a great deal of pressure on the Fed to further expand the money suypply, a la FDR.
Instead, we have Larry Summers saying that we can't gain traction at the zero bound and how he favors a measly $200 billion stimulus.
And renominating Bernake? Are you kidding me? "m glad he helped us avert the Great Depression x2, but he let nGDP fall to far, too fast in '08 and still refuses to try to get us back to where our trajectory would have been.
We also have two new doves who want to do more, but also think monetary policy can't be expansionary with rates near zero.
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Obama's biggest mistakes have been on monetary policy. He could put a great deal of pressure on the Fed to further expand the money suypply, a la FDR.
Instead, we have Larry Summers saying that we can't gain traction at the zero bound and how he favors a measly $200 billion stimulus.
And renominating Bernake? Are you kidding me? "m glad he helped us avert the Great Depression x2, but he let nGDP fall to far, too fast in '08 and still refuses to try to get us back to where our trajectory would have been.
We also have two new doves who want to do more, but also think monetary policy can't be expansionary with rates near zero.
Why can't se do better than this?
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