yes it is impossible for Bernanke to engineer a recovery.
On a forward looking Taylor rule interest rates need to be negative by a large amount.
This obviously cannot happen.
what is needed is a fiscal stimulus
I just thought it was funny… But yes, the optimal rate is negative, I agree.
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ricardian ambivalence 
yes it is impossible for Bernanke to engineer a recovery.
On a forward looking Taylor rule interest rates need to be negative by a large amount.
This obviously cannot happen.
what is needed is a fiscal stimulus
I just thought it was funny… But yes, the optimal rate is negative, I agree.
Sent from my iPad
I agree it is funny