I'd also like to know how the guy went from creaming his jeans over more QE to canning the Fed and begging forgiveness in 20 days' time. Quite the turnaround no?
He sides with Keynes in claiming there is no "general price level" and then promptly endorses Fed intervention to prevent deflation.
How do you measure deflation absent a general price level?
Moreover, he is O.K. with liquidity injections to prevent deflation but hostile to liquidity injections that would result in inflation. In short he was *for* quantitative easing before he was against it.
The FED is at the root of America's problems....part of that shadow government I refer to.
ReplyDeleteRepeat after me:
There is nothing Federal about it and there are no Reserves.
It is a private corporation. An international banking cartel.
They "create" currency out of thin air, backed by nothing of intrinsic value....in a word it is fraud.
KPN3%
The level of control by the fed is only matched by the surveillance of all financial transactions:
ReplyDeletehttp://gardenserf.wordpress.com/2010/09/29/the-ever-tightening-surveillance-net/
I'd also like to know how the guy went from creaming his jeans over more QE to canning the Fed and begging forgiveness in 20 days' time. Quite the turnaround no?
ReplyDeleteHow Did Ambrose Evans-Pritchard Go From Mapping Out More QE To Saying Kill the Fed?
Ambrose Evans-Pritchard is confusing me.
ReplyDeleteHe sides with Keynes in claiming there is no "general price level" and then promptly endorses Fed intervention to prevent deflation.
How do you measure deflation absent a general price level?
Moreover, he is O.K. with liquidity injections to prevent deflation but hostile to liquidity injections that would result in inflation. In short he was *for* quantitative easing before he was against it.
I cannot abide a man who blows both hot and cold.
MALTHUS