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... when there are members of the Federal Open Market Committee who talk about wages increasing at half the rate of productivity growth as an "inflationary threat" that may have to be tamped down with a rise in the cash rate ... while asset-price inflation is always for the best ... its clear that the obligation to pursue a full employment economy is primarily honored in the breach.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Mon Oct 13th, 2008 at 05:28:50 PM EST
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