kids v. economists

[Brad DeLong]

>  > But I would rather have Alan Greenspan--who is very, very capable
>>  indeed--running the Fed than any of a bunch of European central
>>  bankers I can think of who are not very capable and who still have
>>  Ayn Rand's values...
>
>Capable of what? Feather-bedding ten years of mongo trade and current
>account deficits? Allowing the Bubble to go completely nuts, doing nothing
>to slow margin punting, and then finally detonating the current financial
>meltdown?

Things aren't *that* bad, yet at least...


>For all its neoliberal rhetoric, the ECB did the EU's collective
>bidding by ending Euromonetarism, slashing real short rates to subzero
>levels, and avoiding wild speculative excess.

It is true, I have been very pleasantly surprised by the ECB's 
willingness to be reasonable...

Brad DeLong