the liquidity injections seem to have worked

I find it interesting that none of the three thought to bring up our massive trade imbalance or the financialization of our economy as problems holding back our economy. And then there is the malfunctioning corporate board structure where rewards and incentives have little to do with actually being productive. Yeah but sure policy and regime uncertainty are some how the obvious if not nebulous problems.

shorten the working hours man ,than automation would not be a workers nightmare but a workers dream, match the automation rate to the decreasing of working hours ,no matter how efficient prod is without consumption it doesn't matter, debt exploded because people wanted to consume and were falsely encouraged to do so by modern marketing techniques but didn't have the money, because they're wages stagnated despite productivity increases and layoffs took real consumption out of the market

Cochrane simply cannot wrap his mind around the idea of tax-smoothing...