As Dr. Krugman used to say, those folks are the VSP, the "Very Serious People." Always looking for a reason to afflict the afflicted and comfort the comfortable.
Can you please give me an alternative? I mean, you really have to squint to not see this as analogous to the short-run transitory inflation burst that was the Korean War episode...
(Professor, I'm not a deep thinker. I just spout off sometimes.)
An alternative to VSPism? On the merits you have given a very good explanation why not to engage in inflation doom mongering. So the worry-worts are either posturing (driven by (A) genuine fear of the unknown--after all we haven't seen any real inflation in forever, in dog years-or (B) the need to look smart to the other cool kids), or they really are looking for a way to talk the economy into slowing down in order to...what? Let's go Brandon? Be sure wages stay flat? I'm trying not to assume bad motives, but it ain't easy.
As Dr. Krugman used to say, those folks are the VSP, the "Very Serious People." Always looking for a reason to afflict the afflicted and comfort the comfortable.
Can you please give me an alternative? I mean, you really have to squint to not see this as analogous to the short-run transitory inflation burst that was the Korean War episode...
(Professor, I'm not a deep thinker. I just spout off sometimes.)
An alternative to VSPism? On the merits you have given a very good explanation why not to engage in inflation doom mongering. So the worry-worts are either posturing (driven by (A) genuine fear of the unknown--after all we haven't seen any real inflation in forever, in dog years-or (B) the need to look smart to the other cool kids), or they really are looking for a way to talk the economy into slowing down in order to...what? Let's go Brandon? Be sure wages stay flat? I'm trying not to assume bad motives, but it ain't easy.
As I said, I do not track what they are thinking, or why they are doing so. But they are definitely thinking it...