"Fed policy is as stimulatory as at any point in history – including the dark days of the 1970’s."
Like every cloud it had the silver lining of launching 1980's consumer debt rates loan sharks would envy & never rolled back to any rational multiple of LIBOR or rate Banksters & cronies pay.
Great content as always. I don’t know how you do it but am very glad you do
These archive links always have the original link at the top if you prefer.
archive dot ph huh, fricking brilliant
Paywalled otherwise.
"I don't think you can say the whole history of the Fed is disastrous".
Just because they call it the Great Depression doesn't mean it was all that swell.
Bill was being very very generous there.
fwiw I call the GFC "Great Depression 2", at least for half of Americans.
I feel the need to nitpick occasionally. Shows that I'm an active, independent thinker or a crusty, bitter, old curmudgeon. I can live with either.
"Fed policy is as stimulatory as at any point in history – including the dark days of the 1970’s."
Like every cloud it had the silver lining of launching 1980's consumer debt rates loan sharks would envy & never rolled back to any rational multiple of LIBOR or rate Banksters & cronies pay.
Cheers!