Obama’s Flunking Economy: The Real Cause by Ezra Klein

(via DeLong)

Bernanke's "the current outlook is unsatisfactory, we could do more but we won't" is sort of a Buddhist kōan like "what's the sound of one hand clapping?" meant to confound the press and public.* It's unsatisfactory that they can't please everyone and the longer unemployment levels remain high, the more they do permanent damage to the economy and turn structural but the priority is maintaining "price stability" and keeping the bond market happy.

But what about the greater good?
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*like a Jedi Mind Trick