Saturday, August 11, 2012

Paul Ryan: The Veep Who Loved Tight Money the name of my new spy novel.

Oh boy. So Romney picked his running mate and it's Paul Ryan. Ryan happens to be second only to Ron Paul in the House GOP caucus that loves to bash Bernanke for increasing the monetary base. Of course, Bernanke has not done nearly enough monetary stimulus to bring NGDP back to its previous trend path, but nevermind all that. The base is huge!

This whole thing is troubling because, should Romney and Ryan win, it will just mean more political pressure (this time from a higher place) against the doves at the Fed. And the those success of the doves at the FOMC is what the economy still desperately needs.

Prognosticator of prognosticators. 

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