Jean Paul Sartre & US Politics

Mankiw, who had a chance at the Fed if Romney had won, is pretty explicit, appealing to Sartre´s existentialist play No Exit (Huis Clos)

With the President reelected and the House and Senate largely unchanged in composition, the first thought that came to my mind was the classic Sartre play No Exit, with President Obama, Speaker Boehner, and Majority Leader Reid playing the three characters.

Will it be a repeat of the last two years when any policy initiative was “blocked” and even the Fed was “coerced”? Is that what voters want, or do they think that absent a short term prize (the Presidency) on the horizon, things will progress differently?

5 thoughts on “Jean Paul Sartre & US Politics

  1. I think it’s too early to say. Republicans are going to have to figure who their base is because right now, they really don’t have one that shows up to vote. Until then, House Republicans are going to have to roll over on some of the more important issues that they put off.

  2. I hope the Fed a gets aggressive as I do not think it matters that much what happens on fiscal policy.

    The GOP will probably commit hari-kari now, and go with extreme right-wingers through 2016.

    It’s all up to the Fed. They can practice MM and save the day….

    • It’s hara-kiri, isn’t it?

      I think a lot will depend on what Bernanke’s interpretation of “continuing purchases until labor-market conditions improve substantially” turns out to be, in six months time… then we’ll see (and the markets will see) how far they’ve really shifted over in the direction of MM. We’ll also see what their actual SR inflation-tolerance level has shifted over too, which will either vindicate or refute Marcus and Bonnie…

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