I was looking into this book a bit, Kottke also linked to it, but I spent way too long reading about the various works of 'parallel literature' on Wikipedia. There are like four different authors who have all made parallel retellings of The Wizard of Oz!
The inability of Congress to control its spending and taxation policy makes inflation so much harder to tackle. With interest rates above GDP growth, it's a dangerous game of brinkmanship with the economy and inflation.
At some point we will realize that fed rates & QE/QT is too crude a tool to deal with inflation without causing broader problems. Hopefully that is sooner than when the economy crashes from these crazy rates.
The inability of Congress to control its spending and taxation policy makes inflation so much harder to tackle. With interest rates above GDP growth, it's a dangerous game of brinkmanship with the economy and inflation.
At some point we will realize that fed rates & QE/QT is too crude a tool to deal with inflation without causing broader problems. Hopefully that is sooner than when the economy crashes from these crazy rates.