Zombification of the Economy ... Let’s Repeat
“Maybe it’s all part of a plan, I’ll just keep on making the same mistakes hoping that you’ll understand”
—Ed Sheeran
The vast majority of monetary policy mistakes come from denying structural issues or trying to solve those without addressing them.
Imagine a plumber that tries to fix a leak by painting the walls and trimming the garden. The house looks nice; the leak is still there.
Another of the monetary policy mistakes is to assume that recessions are caused by lack of liquidity and credit, and not by the excess of the past.
Imagine an alcoholic that goes to the doctor and says how terribly he feels sobering, and the doctor prescribes a dose of vodka and a few beers.
But it is not a ...
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