When Money is Credit, All Problems Look Like Elasticity - E247

Full write up here: In this episode, I react to another Jeff Snider interview, this time on the Mark Moss podcast. In the interview, Jeff response to Mark's questions about why QE doesn't work and is not money printing. I expand on Jeff's points by describing how QE actually handicaps future growth, and in a credit-based system, it also effects growth. I wanted to tackle the specific arguments Jeff makes about elasticity next. Jeff claims that the problem with the current system is the lack of elasticity in economic slowdowns. I think he'd also argue that the response to these slowdowns has an effect of ever getting back to a good economy, where credit is expanding, and where elasticity is high. He claims that lack of elasticity is the main problems we face today. My analysis is nearly opposite.