"This time is different"

Deutsche Bank strategists Jim Reid and Craig Nicol wrote a report this week that echos what I and other Austrian School economists have been saying for many years: actions taken by governments and central banks to extend business cycles and prevent recessions lead to even more severe recessions in the end.MarketWatch reports –

I think the 'This time is different' delusion should be incorporated into central banking, one of the New Fed reforms. The idea is to bet the 'This time is different' crowd by scheduling the next MMT moment far ahead of time so the MIT cycles of delusion can be minimized. Thus, we can opt out of the fakery, bet the right to coin and make it the truth.

Here we see the Fed bailing out Congress, again, marking the start of the recession.  That flat line at the end, that was Congress refusing to pay over $600 billion a year in interest costs.

The Fed has no choice but to start the recession cycle, right on queue. I say we call this the Keynes cycle, and that incorporates both the Krugman and Taylor cycles. So, kids, if you want to do a 'This time is different' we have economists who teach it.