page with instructions. It would be good to have more people there writing in opposition to deficit hawkism. Perhaps Rodger Malcolm Mitchell would like to publish his article there. Just finished reading Richard Koo's book and was hunting around the web for some more information. Your white paper is a very interesting take and mostly (I think) supportive of what I was reading in the revised "Holy Grail of MacroEconomics". Certainly food for thought; I have to digest and read through once or twice before I grasp all of it completely. If Sumners & the Chinese did not grasp these concepts of balance sheet recessions I think we may be in more trouble than we think. Particularly if China does grasp the concept but sees it as a way to weaken us geopolitically (this is being written on the heels of Pres. Obama's Asia trip). Circumstances really are auguring for a '37 style double dip, aren't they? Thanks for sharing your opinions, and I look forward to reading your blogposts in the future. I have been reading more on free banking because it seems that the median voter will never get the post-Keynsian system right and that is who it depends on. Consider that in 1936 the federal government had to tighten its belt in response to the median voter plunging the country back into depression. But I noticed that in a free banking system there seems to be no difference between currency in one's pocket and money in a