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Politics : View from the Center and Left
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To: JohnM who wrote (103200)2/5/2009 11:17:42 AM
From: Steve Lokness  Read Replies (1) of 542647
 
John:

There has been a distinct change in tone from the Obama team today, as they seem to have become suddenly aware that there’s a real risk that the stimulus plan will either fail to pass, or be emasculated to the point that it doesn’t come close to doing the job.

Politically Krugman may be getting it now. His suggestion that the stimulus plan was too small demonstrated he was tone death as to what is politically possible.

But deflation is a huge risk — and getting out of a deflationary trap is very, very hard.

Arrrrg. Lumber up from 138 to 178 today. Gold over 900. The market does not agree with Krugman. Besides, Krugman, as smart as he is, seems to miss what inflation is - inflation is the increase in money supply (prices are NOT inflation but a measurement). To think that there isn't inflation - an increase in the money supply - misses the dumping of money into our economy in every creative way the government can think of.

steve
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