Loading ...Roach – the Ghost of Arthur Burns
“But the biggest parallel may be another policy blunder. The Fed poured fuel on the Great Inflation by allowing real interest rates to plunge into negative territory in the 1970s. Today, the federal funds rate is currently more than 2.5 percentage points below the inflation rate.
Timothy Leary, one of the more memorable gurus of the Age of Aquarius, purportedly said, “If you remember the 1960s, you weren’t there.”
(The 70s were different.)
The painful lesson: ignore so-called transitory factors at great peril.”
h/t Dave Collum
“The painful lesson: ignore so-called transitory factors at great peril.” I agree. The quote from Leary is pretty much true for most, but those of us who didn’t do drugs, do remember the sixties!