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.
Salvatore Babones (@sbabones) is an associate fellow at the Institute for Policy Studies (IPS) in Washington, DC. His latest book is Sixteen for '16: A Progressive Agenda for a Better America, available now from Policy Press.