Big Brother Meets Big Data - Barrons.com

Big Brother Meets Big Data - Barrons.com

John C wrote: "|Ben Bernanchio's legacy will be higher prices for food, fuel and medical costs and who knows what other unintended consequences."

response: 

Something one can also ponder is whether Laffer's view of the cause and effects of the 30's depression might not also be what we are seeing now:

i.e. for many people there aren't jobs. New tech creates new and replacement jobs; and, as it becomes more expensive to high workers (e.g. Obamacare) or the income from doing business is reduced (e.g. Bill Gross's trenchant article on the effects of low rates on banking and lending - cost sizable numbers of direct jobs in banking and finance and reduced business lending) -

 (Bill Gross Explores the Downside of Ultra-Low Rates
By WILLIAM H. GROSS | MORE ARTICLES BY AUTHOR
The PIMCO founder wonders whether the Fed's policy of "zero-bound" interest rates has become as much a problem as a solution for the economy.)
http://online.barrons.com/article/SB50001424052748703578204578525100112860398.html?mod=djembdr_h#articleTabs_article%3D0

- it might be conceivable that we will be fighting an ongoing sense of deflation as more and more have to do with less; and, as more of what's left gets taken by government for redistribution. That is surely what the case seems to be like in much of Europe, where taxes go up, the economy contracts and contracts faster than any cutbacks in government.