tag:blogger.com,1999:blog-5592542.post6895153995044749804..comments2024-03-18T17:28:44.693-07:00Comments on Rondam Ramblings: Did the Federal Reserve cause the Great Recession?Ronhttp://www.blogger.com/profile/11752242624438232184noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5592542.post-47501057680816071122012-01-31T10:04:49.850-08:002012-01-31T10:04:49.850-08:00BTW, Ron, you say: "I don't see how even ...BTW, Ron, you say: <i>"I don't see how even 4% inflation could have changed the course of events much"</i>.<br /><br />I just want to clarify that MM aren't directly seeking additional inflation. They are seeking steady growth (typically 5%) in nominal GDP.<br /><br />In ordinary times, the annual change in NGDP is typically made up of about 2% productivity growth (produce moreDon Geddishttps://www.blogger.com/profile/04214642122689048677noreply@blogger.comtag:blogger.com,1999:blog-5592542.post-39636568693598882902012-01-30T21:09:44.226-08:002012-01-30T21:09:44.226-08:00Tag. You're it.<a href="http://rondam.blogspot.com/2012/01/us-fed-and-recession.html" rel="nofollow">Tag</a>. You're it.Don Geddishttps://www.blogger.com/profile/04214642122689048677noreply@blogger.com