Policy makers are now trying to encourage guerrillas to give up their fight by cutting off the money spigot.
We have beneficiaries of Labour largess whining because the money spigot looks about to be turned if not off, then at the least, down.
The money spigot is not working ?
"John and I have tried to turn off their money spigot and they find that very threatening."
They saw it as an eternal money spigot, like the earlier format transitions.
Widespread demand for risk-adjusted returns of 8 to 10 percent ensures that the money spigot will stay turned on.
The money spigot is likely to remain nearly closed until the security situation improves, many donors said.
Most economists say the prospects of deflation, which is readily fought by opening up the Fed's money spigot, are very slim.
None of the decision makers seem to be considering what happens if the money spigot slows down.
That alone argues for tightening the money spigot.