Warning! This will be educational for most people.
He doesn't discuss velocity of money theories (the multiplier effect, much discussed in the stimulus bills, is mostly based on this), which I think is more pressing on inflation/deflation than the actual amount of money in circulation and which in part explains why credit is still crunching despite a massive injection of money by the Federal Reserve last year (but not this year), but it's still a pretty good summary of things as they stand.
23 March 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment