An MMT site bringing you dogma-free economics without the pleadings of self interest
The biggest tragedy is that anyone takes NGDP targeting seriously. Here's a February 2012 article describing the Japanese central bank's targeting of inflation: BOJ Unexpectedly Adds Stimulus As It Sets 1% Target For Inflation: EconomyAnd the headline from a few days ago: Deflation Deepens As Japan Contraction Risk Intensifies: Economy
I don't know how Stephanie finds the patience to deal with these people.I wonder what is driving the beltway's reluctance to publicly accept soft currency economics, if it is true that they actually understand it (as at least some like Bernanke clearly do)?-- pressure from wealthy donors ?-- excuse to kill social programs ?-- or fear of being ridiculed for being the first to say the emperor is not wearing any clothing ?
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