Krugman lays it out.
My maybe this should be obvious but I'm not caffeinated enough to know question is... I gather that there are monetary policy people (Bernanke included) who are, for some reason, "more comfortable" with QEII type mucking about than they are with announcing policy in order to change expectations. Why?
Well, I should add, there's also a crazy stupid people monetary debate among people who think the Great Depression should be renamed the Great Shirk...
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