Over the past few years, I’ve searched and searched for that tight money everyone keeps talking about:
Instead, I keep stumbling across data points like this:
OK, that’s just a forecast. It’s not like the financial markets are worried about NGDP growth.
Oh wait:
(Click on image to enlarge)
And it’s up another 20 basis points today (not shown.)
More By This Author:
The Zero Sum Death Spiral
The Real Problem Is Nominal (Wages)
Housing Bubbles And NGDP Targeting
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