Because the last thing we need is more debt when we haven't settled the bad debt we've already got.
Jeffrey Snider here rips the monetarists at two bastions of liberal opinion, The New York Times and National Review Magazine:
There is a definite quality of absurdity to all this intervention. Besides the fact that every method of intervention or monetary "solution" guarantees ongoing crisis and instability, what else has to be said about a condition where increasing cash for the banking system actually creates a liquidity crisis. Whatever rabbit hole exists for central banks and economic experts, they have widened and deepened it, inviting the rest of the world to follow them down it.
For once someone actually explains in macroeconomic terms why there isn't a dime's worth of difference between the Democrats and the Republicans.
