Monday, July 25, 2016

Depression & Confidence
Economist Jeffrey Snider discusses the interplay between central bankers, confidence & economic depression in this essay .. sees central bankers as playing themselves into fools in public & in private "because they are still politically insulated. They have called a depression a recovery for years on end, but there are no repercussions for having done so; indeed, their dutiful media still reports everything they say as fact and everything they do as 'stimulus'" .. on confidence: "Confidence is truly a big part of economics; that is why orthodox Economists spend so much time with asset prices, infatuating themselves with bubbles while also convincing themselves they aren’t that .. The real danger in terms of money and economy might be when the world wakes up to what I wrote above; policymakers have been calling a depression a recovery for nearly a decade. The implications of that might be where this possible event horizon sits; that central banks have exhausted themselves and we still got depression anyway."
LINK HERE to the essay

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