J on QE: Not OK for GOP

Brilliant post, Dread and Awful Czar!

Naturally.

But there is more:

I do have an observation.

Uh oh.

I worry that the Obama White House has begun reading the Gormogons.

The Quantitative Easing began as the Republicans have won the House.

When inflation rears its ugly head in 2011 or 2012, Dr. Austan "Lies, Damned Lies and Statistics" Goolsbee can get on the whiteboard and blame the Republicans taking control of the House rather than Quantitative Easing for inflation as the cause of the problem (much like it was shown that congressional control explained things better than White House control in the the elegant takedown of Goolsbee).

What he will fail to realize was that the team that took him down said that they weren't blaming Congress, per se, but the data can be sliced many different ways.

Of course, the MSM will run rampant spreading this distortion.

You heard it here first.

Best,
Dr. J.

True enough. The Czar is worried that QE will actually work a little bit—just enough to convince them it’s safe enough to try again... like the alcohol-laden moron who successfully shoots a bottle rocket out of his mouth, and therefore decides he can do a whole package at one time.