So both from private correspondent and comments on my last post I can tell that people read me as asking something different than what I mean to be asking. I am going to try to be more exact, at the price of being less readable.
So, financial commentators appear to be debating the merits of additional QE. Some are saying the effects would be good. Others are saying they would be bad.
I strongly suspect that they intend to be making assertions about the world.
I do not believe that they intend to speak gibberish as one might do to an infant. For example, saying “gaga-goo-goo.”
Nor, do I believe they intend to recite memorized lines from a script, like an actor.
Yet, if they are making assertions this suggests they have in their minds some relationship, presumably causal, between QE and the rest of the world.
I want to know what that relationship is, or if there are many different ones at least a few, perhaps more common, samples.
Even if some parts of that relationship are implicitly magical or nonsensical, that’s fine. I am not trying to evaluate it. I am trying to internalize it.