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1994 bond massacre

We Can Only Hope For Another (bond) Massacre

By |2022-03-28T20:26:11-04:00March 28th, 2022|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

To begin with, the economy today is absolutely nothing like it had been almost thirty years ago. That fact in and of itself should end the discussion right here. However, comparisons will be made and it does no harm to review them.I’m talking about 1994, or, more specifically, the eleven months between late February 1994 and early February 1995. Fearing [...]

Greenspan’s Massacre Masterpiece

By |2019-03-13T13:16:33-04:00March 13th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

What most Economists “learned” from the Great Inflation was how important psychological factors had become. You would think that such a huge monetary disconnect would teach especially monetary officials the importance of monetary competence. However, as Upton Sinclair once wrote, paraphrasing, it’s difficult to get a central banker to understand money when his paycheck can be saved by blaming you [...]

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