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Why not stagflation?
The 1960s were a sign of endless trust in Keynesian expansion to the extent that Milton Friedman could say of Richard Nixon "everyone is a Keynesian now".
The 2010s are a sign of endless monetary expansion until everyone trusted the Greenspan put.
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The 1960s were a sign of endless trust in Keynesian expansion to the extent that Milton Friedman could say of Richard Nixon "everyone is a Keynesian now".
The 2010s are a sign of endless monetary expansion until everyone trusted the Greenspan put.
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Last time it ended in inflation plus rising interest rates. The returns to cash were still lousy (most the time inflation galloped ahead of interest rates). Negative returns were baked in.
Why not this time? Serious question from a non-macroeconomist.
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Why not this time? Serious question from a non-macroeconomist.
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