It is November 15th, 2012, and Scott Sumner is apparently still confused about what people who talk about liquidity traps think


That is quite extraordinary.

I seem to remember the guy who keeps yapping about liquidity traps is the same guy who yaps a lot about the need for lots of monetary easing, and that he has made both points with respect to Japan (Sumner is talking about Japan here).

But I must be crazy.