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.
Willie L. Pelote Sr. is an assistant director of the American Federation of State, County and Municipal Employees (AFSCME), AFL-CIO. He can be contacted at