>If you harken back to 1980-81 you can see how wrong things can get.
>
>The Fed is also supposed to regulate banks, and there are some activist
>groups who bird-dog their failure to do so, especially in the fields of
>red-lining and lending discrimination.
All true, but monetary policy can't solve the fundamental problems of poverty and income distribution. Sadly, a lot of populists seem to think it can. I can understand the appeal of perpetually loose money - the temptation is that it could help the bottom half of the income distribution without moving to expropriate the top half. But it can't.
Doug