Part of me thinks that modern monetary policy is a magic trick. Let's all pay attention to this relatively inconsequential interest rate policy, while in the background the real work is done by QE as central banks hand out the dough to their cousins wife's mother who runs this or that massive bank.
Part of me thinks that modern monetary policy is a magic trick. Let's all pay attention to this relatively inconsequential interest rate policy, while in the background the real work is done by QE as central banks hand out the dough to their cousins wife's mother who runs this or that massive bank.
The Emperor has no clothes.