There’s some irony to the unprecedented bond-buying that central banks used to overcome the financial crisis The cause of the crisis, you may recall, was caused by an overheated market…
QE 4, 5, 6, 7, 8, 9, 10 …
Why didn’t we think of this? For years, we’ve been criticizing the Federal Reserve Board for buying too many bonds, keeping interest rates too low, boring us with talk about…
Economic Dissonance
In today’s economy, the theory of cognitive dissonance is itself dissonant. Social psychologist Leon Festinger believed that humans strive for internal consistency, and that two or more contradictory beliefs cause…
The United States of Europe
The U.S. has been imitating Europe for years, boosting government spending and racking up debt, creating a healthcare system that doesn’t work and adding costly new social benefits. Now it’s…
It’s a Dove! It’s a Hawk! No, It’s a Dowk!
The Federal Open Market Committee issued a statement this week and no one knows what it means. A Forbes headline on Wednesday said, “FOMC Statement Dovish,” but on Thursday, the…