by Philip Pilkington
I have pointed out before that the meaning of the term ‘liquidity trap’ has today become completely altered — with said alteration mainly coming from Paul Krugman’s bizarre redefinition which seems tied up with his idea about a natural rate of interest and the central bank being unable to hit this natural rate due to their coming up against the zero-lower bound.
January 3rd, 2017
by John Mauldin, Thoughts from the Frontline
“Experience is simply the name we give our mistakes.”– Oscar Wilde
“Mistakes are the usual bridge between inexperience and wisdom.”– Phyllis Theroux
“Economists are often asked to predict what the economy is going to do. But economic predictions require predicting what politicians are going to do – and nothing is more unpredictable.”– Thomas Sowell