I think this is a very concise way of putting it. This is essentially why I don't think further stimulus or monetary policy tweaking is going to help us.
We have gotten drunk on overspending. Drinking more won't remove the hangover. We just have to sober up and wait.
Comments
I think this is a very concise way of putting it. This is essentially why I don't think further stimulus or monetary policy tweaking is going to help us.
We have gotten drunk on overspending. Drinking more won't remove the hangover. We just have to sober up and wait.
Every time I hear the inebriation metaphor applied to monetary policy, it makes me want a drink.