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Saturday, November 01, 2008

Comments

BearofNH

You can lower rates all you want, but you cannot make people spend. Some consumers are worried, some are frightened and others are scared stiff. Until consumer confidence is restored you will continue to see retrenchment. How long will it take? Look at Japan...

Alex Tolley

Paul Krugman's advice to Japan was to print money to create some inflation and to directly counteract deflation. If the value of money can be made to fall, people will buy things to preserve value. The problem with the Fed's interest rate policy is that it is a monetary tool only. Perhaps it is time to rediscover Keynes?

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