Bubbly Equilibria? What Does That Mean?
March 26, 2011 at 18:32 PM EDT
The head of the Minneapolis Fed, Narayana Kocherlakota gave a presentation in Marseilles, France on Friday. This was another attempt at convincing the public that the Fed can fix anything provided they are left to their own devices and have unlimited capacity to print money. The presentation was a “No Sale” for me. The deep [...]