In this paper Martin is saying not to ignore those who appear to be on the fringe. Gee, is the Economic Edge hanging on the “lunatic fringe,” or is he talking about the people who don’t “do” math and try to solve debt problems with debt? Seems to me the lunatic is clear, but I’ll take it to assume he means us non-tradition thinkers who don’t always buy the mainstream manure.
In this paper he picks up on some of my themes regarding velocity and debt. He clearly explains the difference between what I call real velocity and the velocity created by a loss of confidence. To me they are two different things entirely.
Thursday Humor: The Fed Is Hiring
51 minutes ago