In Front Of Your Macroeconomic Nose
at this point we’ve been at the zero lower bound for six years; we’ve seen a 400 percent rise in the monetary base without a takeoff in inflation; we’ve seen record peacetime deficits go along with record low long-term interest rates. Liquidity trap economics aren’t a speculative hypothesis at this point, they’re the world we’ve been living in for years. How can that go unnoticed?
It’s not unnoticed. There is plenty of people who noticed. But since the truth isn’t the right wing approved talking point, it isn’t being talked about.