IN the fairy tale, courtiers persuade the emperor to parade naked through the streets because he is supposedly robed in new clothes made of a cloth which appears invisible to people unworthy of their office. It is left to a guileless child to see through the confidence trick. We live in a democracy. There is careful scrutiny of every public decision. So, the confidence trick needs to be that bit more subtle. It need not even be a conscious trick, but may instead be motivated by genuine belief. And it may take years for the trick to be revealed. During the 1992 US presidential election, James Carville, in managing Bill Clinton’s campaign kept on reminding his candidate: “It’s the economy.”
2020-2022 Versus 1929-1932 zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
Economic Watch: U.S. inflation draws concerns from investors, experts
by Xinhua writer Liu Yanan NEW YORK, July 22 (Xinhua) Inflation in the United States is reaching decade highs, and drawing concerns from investors and experts as well as ordinary consumers, who believe the country s inflationary pressures are underestimated and the Federal Reserve s inflation management framework should be questioned. IMPACTS ON DECISION MAKING High-flying inflation in the country in the last few quarters not only made many people delay big-ticket purchases but also drove investors into assets to hedge inflation risks. Now the higher inflation is beginning to create explosions and affect economic decision making. And so I think it s a problem right now, said Mickey D. Levy, chief economist for Americas and Asia with Berenberg Capital Markets LLC.
2020—2022 versus 1929—1932 - LewRockwell lewrockwell.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lewrockwell.com Daily Mail and Mail on Sunday newspapers.