“A snarky but accurate description of monetary policy over the past five years is that the Federal Reserve successfully replaced the technology bubble with a housing bubble” YearsPastTechnologyFivePolicyFive YearsDescriptionBubblesAccurateReservesReplacedHousingOver The PastMonetaryFederal ReserveMonetary PolicyHousing Bubble Author:Paul Krugman
“I was still very hopeful that much work lay ahead of me. Perhaps because much of what I had worked on or thought about had not yet been put into writing, I felt I still had things in reserve. Given this optimistic nature, I feel this way even now when I am past sixty.” WayFeelsWritingStillsPastGivenFeltLaysOptimisticHopefulSixtyReserves Author:Stanislaw Ulam
“The Federal Reserve is the overlord of the money supply. If these two are not steering in the same direction, they can either neutralize each other or have the economy lurching in all directions. This is not a rational system for setting economic policy. It has given us trouble in the past, as the text will establish, and will inevitably in the future.” IfsTwoPastPoliticsGivenEconomyTroubleEconomicPolicySettingRationalSettingsLiberalismReservesFederal ReserveEconomic PolicySteering Author:Wright Patman