central banks economy

Larry Summers Presents: ‘Black Hole Monetary Economics’

"The United States is only one recession away from joining Europe and Japan.

"The United States is only one recession away from joining Europe and Japan.
This content has been archived. Log in or Subscribe for full access to thousands of archived articles.

3 comments on “Larry Summers Presents: ‘Black Hole Monetary Economics’

  1. Ugh, the answer is staring everyone right in the face but no one wants to see it. Just start wiping the inter-agency balances between CBs and Treasuries – voila! growth and inflation. At some point the accounting fiction of QE will be resolved and we can restart the nonsense all over again.

  2. “a more fundamental lack of aggregate demand” says one of the leading technocrats of neoliberalism, who as Obama’s economic advisor in 2009 insisted that more than $1 trillion in fiscal stimulus to pull out of the Great Recession was not politically possible, despite complete Democratic control of Congress, thus making eternal, impotent QE a fait accompli.

Speak On It

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Skip to toolbar