SilverSurfer how about your, the American libertarian, attitude toward the Fed?
Notes on Easy Money and Inequality .. the last bit ..
October 25, 2014 8:38 am
Meanwhile, for most people neither interest rates nor asset prices are key to financial health — instead, it’s all about wages. And new research .. http://www.voxeu.org/article/monetary-policy-and-inequality-us .. just posted on Vox, using time-series methods on micro data, finds that
--- the empirical evidence points toward monetary policy actions affecting inequality in the direction opposite to the one suggested by Ron Paul and the Austrian economists. ---
Which brings me back to the reason most of us favor QE. No, Janet Yellen and I aren’t secretly on the Goldman Sachs payroll. Nor do I (or, I suspect, Yellen) believe that unconventional monetary policy can produce miracles. The main response to a depressed economy should have been fiscal; the case for a large infrastructure program remains overwhelming.
But given the political realities, that’s not going to happen. The Fed is the only game in town. And you really don’t want to trash the Fed’s efforts without seriously doing your homework.
the American 'libertarian' 'individual? uniform and really as pointed out by Krugman above, looks dissociated .. http://en.wikipedia.org/wiki/Dissociation_%28psychology%29 .. from the reality of research on the effect of QE on inequality .. hope that helps with your "Wha?"
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