Greenspan has a new book, resents being called a bubbler by Taylor, and pisses off the progressives for libertarianism. So, who is a good central banker? I have the one year rate, which they supposedly control. Along with it is the deflater and real growth. If the intent was to send the one year rate to zero, they done a good job, smooth landing. But real growth is still near the 2% rate, it seems stable. Why are rates flat at zero? Blame the banker or blame the capital owners, rates should not be at zero.
Rates are at zero because the capital owners of the bank cannot meet their payments and they are overdrawing the seigniorage account, a thirty year problem.
No comments:
Post a Comment