Slope of Hope Blog Posts
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Well, today is weird – – just totally, totally weird – – so I'll toss out a bit of music as we await the closing bell.
I don't have a PhD in Economics, and perhaps if I did, some of the oddities of modern economic policies, as practised by central bankers nowadays, wouldn't seems as strange.
One of those oddities is the strong superficial similarity between the policies of spendthrift governments printing money to cover deficits, in the manner that led to hyperinflationary meltdowns in Weimar Germany and Zimbabwe, and modern quantitative easing, where governments run large deficits to boost growth, selling bonds to cover the deficit, while for unrelated reasons their central banks create large quantities of money to buy bonds and thereby boost liquidity.
Equally the layman might think that if a policy isn't working, then it might be worth considering alternatives, while the PhD economist's trained mind and keen vision can see that initial failures are due to not pursuing the strategy vigorously enough, and that redoubling the effort will be sure to yield results.