td
"a fiscal cliff slowdown....monetary policymakers are already promising, explicitly or implicitly, to offset the fiscal cliff. ... It seems pretty likely they would
step on the monetary gas..."
this post left me cross eyed
"It seems pretty likely they would step on the monetary gas" !!!!!!!!!!!!
and that would counter-act the fiscal cliff drop...how ??? ?
some mighty bodacious quant ease eh ??
now that would be a real experiment in transgressive macro policy
i'm reminded of the quip by ray moley
about his then boss fdr
the great potus of depression amerika
played happily
"..a game of nine pins
with the skulls and thigh bones
of orthodox economics "
liquidity trap ?
poohh-eee
what liquidity trap is deep enough
if we fedskins
are prepared to pour in enough new money
buying up
public and private paper
this beats unalloyed post civil war green backism
for its monocular audacity
