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Not Even Secondary Inflation

By |2016-02-29T15:37:29-05:00February 29th, 2016|Economy, Federal Reserve/Monetary Policy, Markets|

At first economists wanted to just ignore oil prices, as they were to be “transitory” or even beneficial to consumers everywhere around the world. The fact that economists would actually admit that low oil prices would be helpful (in a vacuum, they are) showed only the desperation given the seriousness of the “unexpected” surrender. Mainstream monetary theory rejects all falling [...]

How Many Ways Can We Prove It Doesn’t Work

By |2016-02-26T12:09:21-05:00February 26th, 2016|Economy, Federal Reserve/Monetary Policy, Markets|

So thorough is the unwinding, they don’t know what to do about it. By “they” I mean policymakers, economists, the media, etc. For years, monetarism has been described as money printing, therefore all that was necessary was just the threat. Then the events of August 2007 intruded, and what was implicit became explicit. Central banks globally responded, since the wholesale/eurodollar [...]

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