Saturday, June 1, 2019

This time is no different than last time

Since the world’s major central banks came to the global economy’s rescue in 2008, they have had more and more tasks foisted upon them, even as some politicians question their expanded role and others seek to undermine their policymaking autonomy. To escape this dilemma, monetary authorities must get back to doing what they do best.
KENNETH ROGOFF needs to read a book, what is the name? This Time is Different.

He is stuck, he is the economic minister for the King and his job is to tell us that this time is different. I have 'pro cyclical' Krugman, 'misinforming' Stiglitz, and 'doing it different' Rogoff.  Together they will cause the same result as the last time.

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