The concept of knowledge has recently undergone a radical change, with no less a personage than our new president and his cohorts attempting to legitimize what one of them has referred to as “alternative facts.”  Notwithstanding the societal consequences of government leaders making decisions based on false information, fake news can be especially problematic when making…
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In Part 1 of this posting, I talked about how the government’s monetary policy is executed through the Fed to modify interest rates.  To recap: the Fed cannot control interest rates; it can only influence them, and realistically speaking only short-term rates at that.  In order to keep long-term rates low to stimulate the economy…
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