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Well, in that situation the money supply has also increased by $300M.

Maybe our monetary theory is fucked up because our monetary system is fucked up.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Sun Jun 25th, 2006 at 10:33:58 AM EST
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