Further proof economists don't deserve math
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Economists have a tendency to have no humility. Partly self-sorting, partly training, I suppose.
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I have a friend who was the maintenance person in Summers' apartment building. Summers would NEVER acknowledge him when they rode the elevator together. My friend would drink wine & talk with another resident, Czeslaw Milosz, & has an MA + two other advanced degrees.
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You are either on the inside (of certain private jets) or on the outside and don't count -- or even exist.
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What is he even talking about? If UST printed enough bills, there would be inflation. That's all there is to it. That the economy is absorbing injections doesn't mean the laws of physics have stopped working.
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