When the world economy is groaning with spare capacity, there is little risk that any excessive easing of policy might send prices soaring.
The housing bubble itself, Wesbury points out, came about because of excessive easing by the Federal Reserve.
The Fed can bring about depressions (many historians agree with Milton Friedman's belief that the Fed was the chief cause of the Great Depression), horrific periods of inflation, as it caused in the 1970s, as well as the current economic crisis, which the Fed fueled with its excessive easing of monetary policy several years ago.
The rise of protectionism and anti-immigrant sentiment in Britain, America, and Europe is widely believed to reflect stagnant incomes, widening inequality, structural unemployment, and even excessive monetary easing.
An alternative route for dealing with global distrust of currencies inflated by excessive monetary easing would be for the private sector to start using gold in ordinary transactions.
Updated at 3.41pm BST 2.32pm BST Schäuble suggests ECB should reduce liquidity Wolfgang Schäuble has waded into the debate over excessive monetary easing by suggesting that the European Central Bank should take the opportunity to reduce liquidity.
Excessive monetary easing by Greenspan, however, is threatening the deflationary forces from manifesting themselves and could lead to stagflation.
Other states, such as New York, are questioning the viability of mandatory prison terms for non-violent drug offenders, opening the door to policy changes that could help reduce excessive sentences and ease the massive overincarceration of racial and ethnic minorities.
There is an inherent contradiction between the need for debtor countries in the euro zone to regain competitiveness through lower prices and at the same time to ease excessive debt with a dose of inflation.Even in a better economic climate, though, southern Europe would be bad at writing down debt.
Mucolytic agents are often used in Japan to ease excessive mucus production in patients with chronic obstructive pulmonary disease (COPD) or bronchial asthma (BA); the treatment ameliorates dyspnea and improves quality of life (QOL).
