Lots of humor this weekend. Found this snippet by Robert Murphy,:, who is trying to explain why certain “market monetarists” are bat-shit insane :
(3) Back in 2007, if you asked economists, “Suppose the Fed triples the monetary base in a few years, pushes short-term nominal rates to zero and even negative in fleeting moments, and creates all kinds of credit facilities to bail out banks, do you think this is tight money?” then most of them probably would have punched you in the face.
I know, I know. I’m a nerd.