Paul Krugman: The Fed is not a rogue trader and historical norms for interest rates aren't relevant in a persistently depressed, deleveraging economy. But traders continue to lash out and claim, "It's all fake!"
The citizens' ballot initiative or referendum, created in the first Gilded Age to counter plutocratic governance, is overmatched in new Gilded Age.
Jack A. Smith was editor of the Guardian -- for decades the nation's preeminent leftist newsweekly -- that closed shop in 1992. Smith now edits the Hudson Valley Activist Newsletter.