[lbo-talk] Once again, food prices
brad
babscritique at gmail.com
Wed Feb 9 12:17:04 PST 2011
On QE I am not claiming that monetary policy plays no role in
speculative distortions, only that it isn't really clear what impact
QE has on the value of the dollar. When the most aggressive QE was
taking place in 2008-2010, the value of the dollar was rising, not
falling. Also, the drop in value of the US dollar is most sever
during the period of 2003-2006, prior to QE. Now what role this
excess liquidity has on the market is another story, but as I
mentioned in my reply to SA I don't think we should claim that it has
a direct bubble producing effect, or that it has to.
Brad
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