Playing with matches that could trigger a $30 trillion debt bomb is obviously something the Fed should avoid. Prof. Werner would probably argue that its policy mistake, like Japan’s in the 1980s, has been to inject credit so that it has gone into speculative assets, inflating asset prices. The Fed’s liquidity fire hose needs to be directed at local production. This can be done through local community or public banks, or by making near-zero interest loans to state and local governments, perhaps mediated through a National Infrastructure Bank.
The article is ok, the commenters are nuts.. I guess it's open mic nite
Like I have been telling you
Redirect all that Wall Street bailout money to the real economy, and all your infrastructure financing issues will go away. Doesn't kill interest entirely, but it's a good step
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