-
No Shock, A Bigger Theatrical Budget
You have to understand, none of this is about money or even bonds. It is all intended for one thing and one thing only: expectations. This has been the fulfillment of Paul Krugman’s long-ago criticism. The way out is to shock the system, he said. It doesn’t even matter, by this theory, what you do. So long as it is outside of every market expectation, that’s the only goal. Japan, who was the target of Dr. Krugman’s reproach, and after having consulted with the former Economist (he’s now just a political carnival barker), finally gave in and decided to give it a try. QQE was the “shock and awe” which was ... (full story)