Wednesday, September 18, 2013
Miniloose
When governments control the price of bread or gasoline, it's correctly described as Harsh or Rigid or Tight, and economists correctly diagnose the hoarding and shortages that always result from price controls.
When governments rigidly and harshly and tightly control the price of money, holding it at ZERO for Chosen People, it's bizarrely described as Loose or Easy or Dovish or Accommodative, and economists completely miss the connection. In fact economists praise this policy to the heavens! In this case, because the hoarding and shortages help Chosen People to gain even more illegal super-riches through arbitrage, the hoarding and shortages are just part of the heavenly joy.
And then economists wonder why we don't trust them. Miserable nasty filthy corrupt fuckheads.
¶ 6:52 AM 
