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Economic Illiteracy, Economists, Inflation, Jobs
Mish's Global Economic Trend Analysis: Economic Illiterate Proposal: "Inflation Creates Jobs"; Inflation Economics 101: "....Yes, inflation helped create a massive housing boom. Builders employed like mad. Speculators built condo towers in Florida, Phoenix, Las Vegas, and numerous cities in California. It was a grand party. All based on inflation. Then the bubble burst. Then a consortium of economic jackasses came along saying we need more inflation (as if the cure was the same as the disease). The Fed tried, and tried and tried. However, the Fed did not create enough inflation to satisfy the monetarist jackasses, but it did create bubbles in stocks and bonds. Benefits flowed to the banks, the corporations, and the already wealthy. That gave rise to still more economic lunacy regarding income distribution...."