More proto-keynesian, Federal Reserve Central bank nonsense.
Money printing and politically-controlled interest rates for the benefit of the progressive nanny state has made a few connected people wealthy and has saddled the rest with debt and hidden inflation.
I for one welcome deflation - I’m tired of the government and Wall Street stealing my wages and savings through inflation and low interest rates.
” through inflation and low interest rates.”
Low interest rates are a sign that there is no inflation. The bond vigilantes demand an inflation premium and as the Fed learned during the ‘70s they have enough firepower to dictate terms. Do you recall what rates were in the late ‘70s?