hi, i'm jen.who are you?

I’m not sure my point on the excess supply of savings even at a zero interest rate got through. The question is: suppose you concede that this is the situation we face; what do you want us to do? If you reject inflation, the only way to get a negative real interest rate, as immoral; if you say that deficit spending is unacceptable; then what is your proposal to close the gap? Are you saying that tens of millions of workers must remain jobless so that you feel comfortably orthodox?

I know the usual answer: it involves denying that we do, in fact, have an excess supply of saving. That’s very much like climate change denial: because conservatives find the implication of the facts — that we need government intervention — uncomfortable, they prefer to deny the facts.

But we do, in fact, face a problem of inadequate demand. And bluster about morality and sound policies as much as you like, the question remains: what’s your solution?