The monumental mistake of the Federal Reserve cutting rates this week can only be understood in the context of the rising God’s complex of central planners. An overwhelming combination of ignorance and arrogance.
Continue reading The Fed’s Irresponsible Rate Cut Accelerated PanicIn this episode of World Economics we discuss the concept of helicopter money, the mistake of using the Hong Kong example and why it is likely to be implemented… and fail.
In this new episode of our video blog, we discuss the impact on the global economy of the coronavirus epidemic, as well as some important risks in policy action.
Watch the other episodes in my YouTube Channel: https://www.youtube.com/channel/UCoA66gIqiExUIjwyw1cB9Dw?view_as=subscriber
Central banks have tried to create inflation at any cost under the misguided view that this will boost growth and help reduce the debt burden. Just as a pilot driving a Ferrari with the instructions of a Ford T, central banks are pushing the accelerator looking at the rearview mirror and screaming “go faster, we have not crashed yet!”.