isn't QE on their terms ?
if so why not do it ??
okay we know why fiscal macro must remain shackled like
the monster in the burgermeisters court room
kalecki explained that ..prophetically
back in the early 40's
but the fed is "their " lever not the people's lever
either
( 1) they believe QE wouldn't work
or
(2 ) they don't want a fast recovery ...no matter by what means
which is of course my contention
but could it be reason (1 ) ???
if it is (1)
then the bastards believe in the liquidity trap
and are caught between a rock and a hard place
an ineffective FED and an un-useable FISC
