...it's nonetheless quite funny to see the Federal Reserve abandoning its faith in markets in order to prime the pump like good old-fashioned Keynesians.The Fed! Faith in markets! The Fed was explicitly founded as a way for uncompetitive businessmen to get round markets. And that's what is continues to do today.
There's nothing quite like having faith in your principles - eh, lads?
Saturday 11 August 2007
The Fed: nothing to do with "markets"
I always enjoy reading Martin's stuff, even though I don't agree with everything he has to say. But I had a good laugh this morning when I read this piece: