“Reinflation or bust” would seem to be the motto at the Federal Reserve.
If you’d like that in simpler terms, Mr. Evans is saying that, in its efforts for force the economy to reinflate, manipulating interest rates didn’t work. We foolish consumers, who refuse to consume and are instead saving and paying down debt like there is no tomorrow, are at fault. And that another round of “quantitative easing”, otherwise known as “monetizing the debt”, is on the way.
Gold, silver, beans, bullets and bandaids. If you owe on it, it ain’t yours. Save for a rainy day. All of the old platitudes exist for a reason, and people like Mr. Evans are determined that we learn the lessons, the hard way, once again.