Paul Krugman: Ignoring the Evidence, and Waiting for Inflation 

Canon to right of me, canon to left of me - actually, scratch that, it's all canon to right of me.

Noah Smith, a finance professor at Stony Brook University, recently wrote on his blog about the "finance macro canon."

This is the view that money-printing and deficits lead inexorably to runaway inflation, plus assorted other arguments about why easy money is a terrible thing, even in a depressed economy.