Once an Inflationist, Always an Inflationist

" OA has noted P Krugman’s insistence that the Fed/Treasury use all the tools at their disposal to keep us from falling into another Depression. We’ve yet to see any thorough discussion, however, of the consequences of such action. He admits deficits are a “long-term” problem, that we need a plan to address them eventually. In the meantime, policy-makers shouldn’t be afraid to spend and print to their hearts’ content."