He posts about the great liquidity demand shock.
Yes, we suffered a demand for liquidity. What evidence do you have that the demand for liquid money was greater than the demand for liquid oil tankers? Nor do I think Nick Rowe necessarily thinks the demand for liquidity was all about money.
In 2008 we discovered that the flows of stuff was misaligned, incoherent. A misaligned flow will ultimately shows as liquidity demand in shoelaces, ships, and money.
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