Dr Krugman says it so well with this story about babysitting...(and notice the pub date - its not recent!)
I seriously wonder that maybe every one of our elected officials is compromised - compromised in the sense that if they were to be seen as the ones who allowed inflation they legitimately fear that not only will they become unelectable, but that cushy jobs as lobbyists or in the banking industry will evaporate, since inflation will hurt lenders (bankers) most... (and so we get a kabuki debate that will only end in the destructive actions of reducing the deficit though government cuts rather than revenue increases...)
I also believe that we don't make enough here - sure, we could pull out with the help of a little inflation, but to what? What would prevent us from falling right back in? Sadly, Krugman's tale doesn't go that far...
No comments:
Post a Comment