The Surprising Reaction to Quantitative Easing

Paul Krugman: The simple fact is that we have a global excess supply of savings, which is doing terrible things to workers. The reasonable thing is to do something about it; it’s deeply unreasonable, and deeply irresponsible, to invent reasons not to act because you’re clinging to simplistic slogans. Read more of this excellent analysis here. Also, the WSJ remains a bastion of stupidity.