Calculated Risk points us to a speech by Kevin Warsh that strikes me as almost the perfect illustration of the predicament were in, in which policy is paralyzed by fear of invisible bond vigilantes.
Warsh isnt an especially bad example but thats the point: this is what Serious People sound like these days.
Source:
http://krugman.blogs.nytimes.com/2010/06/29/the-conventional-superstition/
Advertisement
