On the Edge Again: The Fed, Trump, and the Risk of a 1980s-Style Spiral: An ongoing cautionary tale of monetary policy, inflationary pressures, and the destabilizing influence of political...
My guess is a new fed chair would be a Fox News personality with the intellect of a rabbit but smart enough to hop on the Trump fraud and graft wealth generator.
Bless you. I graduated Cal 1970 without ever taking an Econ class. My biggest regret is that often I am unable to fully appreciate that about which you write. Today, however, after reading this, I must say: right on and write more.
Back in 1972 my father got pulled into a committee that worked in the White House to draft Nixon's policy on oil imports (lots of work and little reward.) When I graduated from college in 1973 and was looking to buy a car, dad advised me to get something with good fuel efficiency. I asked why, thinking that dad probably knew something I didn't. He said that the demand was growing faster than the supply could keep up with. That was in June. So I got an MG B. When the OPEC embargo hit in October I felt like I'd dodged a bullet.
As I remember, inflation expectations of the 1970s had more than a decade to get entrenched and the OPEC and Iranian supply shocks were not resolved quickly. I would like to believe that Trump will not have enough time to damage today's economy to same degree. But I'm worried.
Why not 'debt doesn't matter' Stephanie Kelton as Fed Chair. She would cut rates to zero since her theory of econ says it won't make a difference. Minsky is rolling over in his grave.
My guess is a new fed chair would be a Fox News personality with the intellect of a rabbit but smart enough to hop on the Trump fraud and graft wealth generator.
"1993 OAPEC Yom Kippur Arab-Israeli war oil embargo"
ITYM 1973
Allow me to present our Treasury Secretary being interviewed yesterday.
Money quote: "I'm not an economist." (14:50)
This is the guy Wall St. is hoping will fix this mess.
https://www.youtube.com/watch?v=mA9OaJNMszU
Bless you. I graduated Cal 1970 without ever taking an Econ class. My biggest regret is that often I am unable to fully appreciate that about which you write. Today, however, after reading this, I must say: right on and write more.
Back in 1972 my father got pulled into a committee that worked in the White House to draft Nixon's policy on oil imports (lots of work and little reward.) When I graduated from college in 1973 and was looking to buy a car, dad advised me to get something with good fuel efficiency. I asked why, thinking that dad probably knew something I didn't. He said that the demand was growing faster than the supply could keep up with. That was in June. So I got an MG B. When the OPEC embargo hit in October I felt like I'd dodged a bullet.
As I remember, inflation expectations of the 1970s had more than a decade to get entrenched and the OPEC and Iranian supply shocks were not resolved quickly. I would like to believe that Trump will not have enough time to damage today's economy to same degree. But I'm worried.
Why not 'debt doesn't matter' Stephanie Kelton as Fed Chair. She would cut rates to zero since her theory of econ says it won't make a difference. Minsky is rolling over in his grave.