hard heads soft hearts

a scratch pad for half-formed thoughts by a liberal political junkie who's nobody special. ''Hard Heads, Soft Hearts'' is the title of a book by Princeton economist Alan Blinder, and tends to be a favorite motto of neoliberals, especially liberal economists.

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Thursday, November 11, 2010
A Depressing mone-fairy tale

Princess Investment and Prince Saving need to meet up in order to fully employ their true love, but their only means of connection, Mr. Interest Rate, is in a weakened state and unable to carry out his customary duties. Will Uncle Bernanke, a kindly, avuncular philosopher-wizard (or so we thought) use his special magic to give Mr. Interest Rate the help he so desperately needs? Or, as some have said, is he being prevented from acting by the likes of GrĂ­ma "Wormtongue" Hoenig?

Update: This is a pretty rotten story, it must be said. Unfortunately, it has the virtue of being true.

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