In his email my friend suggested that after reading the linked article, I read the first “Reader Comment”. The one from VonMises Jr.

The VonMises Jr. comment mentions Mr. Richard Fisher. Richard Fisher is the President of the Dallas Federal Reserve Bank, and he also sits on the Open Market Committe of The U.S. Federal Reserve Bank.

I’ve been following Mr. Fisher’s speeches for about four years now. Recently he has become very critical of the U.S. Federal Reserve’s Monetary Policy. He has likened the U.S. Federal Reserve’s monetary policy to "Monetary Ritalin" and he has mentioned the difficulties of a monetary policy that lacks a clear exit strategy by referring to the Fed’s Quantitative Easing III (QE III) as the The Fed’s “Hotel California Monetary Policy”. This reference evokes the last lines of The Eagles song, “Hotel California”, which were:

“Relax” said the night man, “We are programmed to receive . . . you can check-out any time you want, but you can never leave”.

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