RE: DD & Max on Bernanke: (Thank Heavens) He’s no Feldstein
Max Sawicky wrote:
If you harken back to 1980-81 you can see how wrong things can get.
The Fed is also supposed to regulate banks, and there are some activist groups who bird-dog their failure to do so, especially in the fields of red-lining and lending discrimination.
All true, but monetary policy can’t solve the fundamental problems of poverty and income distribution. Sadly, a lot of populists seem to think it can. I can understand the appeal of perpetually loose money - the temptation is that it could help the bottom half of the income distribution without moving to expropriate the top half. But it can’t.
Doug