"This does say that there is little risk of accelerating inflation. Indeed, ...
there’s a “pent-up demand for wage cuts” that will probably push inflation lower even if the economy is recovering "
Central banks and other policy makers will be making a terrible mistake if they look at low, stable inflation and pat themselves on the back for a job well done. Low, stable inflation, it turns out, is entirely consistent with catastrophic economic mismanagement"
translate this
even if wealth rises thru QE and inflation increases ..it will be retarded by a nominal wage anchor
we need a wage boom led recovery to reach optimal speeds
that means uncle cuts payroll taxes increases EITC" pays some health premiums"
etc
and makes transfer payments not loans
