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John Taylor gets his Marshall McLuhan on. This situation might be almost as amusing as the theater line scene in the film, except we just learned that the largest monetary experiment in history is based at least partly on a flawed understanding of a fundamental policy rule.
As the consequences of this incompetence and zealotry hit the public at the gas pump and grocery store, one wonders how much longer Congress can remain complicit before it imposes the accountability Taylor advocates in the last paragraph of his post.
As the consequences of this incompetence and zealotry hit the public at the gas pump and grocery store, one wonders how much longer Congress can remain complicit before it imposes the accountability Taylor advocates in the last paragraph of his post.
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ALOHA!!
I'd say Mr. Taylor says more on the paragraph above the last one where if you read between the lines he says that if Bernanke does not raise rates by the end of this year then America will be JAPAN!
America is in much worse shape than Japan.
I am not at all sure recent events have disqualified Goldhorder's prediction.
Nice to see TCR back after a long absence, though!
I found interesting discussion here. Thanks a lot for sharing
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