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Politics : Formerly About Advanced Micro Devices

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To: PKRBKR who wrote (774969)	3/14/2014 5:58:39 PM
From: Steve Lokness	Read Replies (2) of 1576575

<<<<< what is wrong with cheap money for those that qualify? >>>> Good question. There is no free lunch. That there is nothing wrong with cheap money is the exact mistake that Greenspan made. .............It distorts and rewards poor investment. The Austrian School that Mindmeld mentioned (Mises) discusses this in length. Way too complicated to go into on a chat board but reading some of economic theory can be helpful. I think Austrians were almost alone in telling us that the money policy was creating a bubble. No matter what you think of Austrian thought, can't take that away from them. BTW, while I believe Austrians have a lot of it right, I think they - just as keynesian thinking does - hasn't adapted to a world in which their thinking no longer fits well. A global economy for instance. It's just different now, but how those differences all fit together takes a smarter person than I am. Somehow this has to explain why we haven't seen more of inflation. I wish someone could explain that to me.

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