Last year, 2022, was the worst year for asset prices across the spectrum, with 30 trillion dollars slashed off investment portfolios. Paradoxically, so-called safe-haven assets such as treasuries performed the worst in history, which is the crux of the bank liquidity crisis and bank runs in 2023. Last year was the first time in decades that asset prices for stocks and bonds fell together due to the Fed raising rates at the fastest...
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Who would have thought that inflation, defined as an increase in prices, is creatively described using countless other words? It is as if monetary policymakers do not want to call a black cat black because it clashes with their agenda of tightening in a bust, even if that means putting most of the population in the poor house. Fiction and invention are the fabric of life, so let’s look at how policymakers resort to creative...
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