Statements such as ‘The Federal Reserve should have done such and such’ or ‘The Bank of Japan shouldn’t have done this and that’ are often uttered by market analysts and commentators. Although these analysts and commentators are often well-intentioned and healthily skeptical, their statements contain a fallacious premise (in my mind): that central banks could have succeeded.

     

    Cartoon with Bernanke and an Angel - About Omniscience & Central Banking

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