The claim:
So we have a choice, which is to maintain the credibility of theoretical monetary policy, which in the era of net-zero inflation rates that we have witnessed for the last decade
Reality:
Even a slight acquaintance with reality would be useful, don’t you think?
This even before we get to the point of QE and all that, which was to prevent deflation etc….
Over the last decade we have had negative “real” (inflation-adjusted) interest rates. Maybe he has confused the two?
What’s “net-zero inflation” anyway? Net of what?
I’d echo John77’s interpretation. And RichardT’s comment.
Shaun Richards is good on this:
https://notayesmanseconomics.wordpress.com/2020/04/06/mr-bean-and-two-barons-are-pressing-for-monetary-financing-in-the-uk/
This is amusing too
What’s “net-zero inflation” anyway? Net of what?
A Spud replies: “Net of inflation, of course. Inflation is a neo-liberal concept anyway, as I explain in my book The Curajus State (?sp).”
@chris miller “inflation is a neo-liberal concept anyway” WTF? i thought inflation was a fact.
That was last week’s line, mo. Do try to keep up!