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Drowning in a Liquidity Trap?

- Frank Shostak -

Shostak needs to update his bio. He WAS the chief economist at M.F. Global. M.F. Global no longer exists after taking his advice to buy Greek government debt with its clients' money. Along with Corzine, he should be serving a lengthy prison sentence.

That being said, the man is a fool. The so called wealth generators have been sitting on record amounts of cash. They have not been updating their machinery or hiring new people. Rather than creating prosperity, they have been sucking the life blood from ordinary folks. History has never before witnessed a transfer of wealth on this scale. An economy only works when ordinary folks actually have some money in their pockets to spend. As for his solution, just ask the Greeks, Spaniards or Cypriots how that has worked out for them.

PLEASE, do not post any more articles from this individual. The only place where his views should be heard is in the prison yard.

Commented 4135 days ago

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Beginning of the headline :Bruce Bartlett recently lamented in The New York Times that given the current state of economic affairs we need more Keynesian medicine to fix the US economy. According to Bartlett, the core insight of Keynesian economics is that there are very special economic circumstances in which the general rules of economics don’t apply and are in fact counterproductive. This happens when interest rates and inflation rates are so low that monetary policy becomes impotent; an increase in the money supply ha... Read More

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