maybe this might help explain it.............., page-2

Hi ADW,

For mine, congratulations on an absolutely brilliant post.

Bernanke's -

"....should always be able to generate increased nominal spending .... " -

conveniently avoids the caveat -

... but cannot determine where and upon what that spending might be ... -


and so carries no conviction to anyone who thinks.


We'll see.


cheers

dub