http://www.creditwritedowns.com/2010/01/caroline-baum-bernankes-defense-of-easy-money-is-ivory-tower-nonsense.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 http://www.creditwritedowns.com/2010/01/caroline-baum-bernankes-defense-of-easy-money-is-ivory-tower-nonsense.html#comment-58014 Anonymous Thu, 07 Jan 2010 20:57:00 +0000 http://www.creditwritedowns.com/2010/01/caroline-baum-bernankes-defense-of-easy-money-is-ivory-tower-nonsense.html#comment-58014 You got bunch of inflationist in academia, government, and banking. When Paul Volcker jacked up interest rates, politicians wanted him removed. George Bush senior criticized Alan Greenspan for not creating inflation to boost the economy to help his presidency. When Fed creates inflation, mainstream assume it's a good thing. There is no critical voice against inflation only from a small group, often crowded out by the status quo. Basically you got bunch of speculators in the mainstream you who like quick money. Interest rates down, housing up = good, and that debt is wealth. You got bunch of inflationist in academia, government, and banking. When Paul Volcker jacked up interest rates, politicians wanted him removed. George Bush senior criticized Alan Greenspan for not creating inflation to boost the economy to help his presidency. When Fed creates inflation, mainstream assume it’s a good thing. There is no critical voice against inflation only from a small group, often crowded out by the status quo. Basically you got bunch of speculators in the mainstream you who like quick money. Interest rates down, housing up = good, and that debt is wealth.

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