[lbo-talk] Money

Mike Beggs mikejbeggs at gmail.com
Sun Aug 7 18:47:28 PDT 2011


On Mon, Aug 8, 2011 at 5:24 AM, Doug Henwood <dhenwood at panix.com> wrote:


> I'm in a hurry now, but I just want to say: But they don't want to! QE stoked inflation expectations among money managers, who pumped megawads into commodities. That's about the only real-world effect.

That's what I mean in quoting Galbraith the Elder about pushing on a string. Central banks can give the horses huge troughs of water, but the drinking is up to the horses.

Mike



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