She packed my bags last night, pre-flight
Zero hour, nine am
And I'm gonna be high
As a kite by then
--Elton John
Suppose that you wanted to juice stock, bond, and other financial asset prices as high as possible. Suppose that the tools at your disposal included power to dictate short term rates, the ability to print money out of thin air, securities regulation, a syndicate of banks reporting to you, and power to issue and purchase debt instruments.
How would your policy choices look anything different than they actually are right now?
Tuesday, March 3, 2015
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