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Consumer confidence

…not anytime soon regardless of how happy they are. Rebecca: In my view, it’s (more precisely) the lack of money during the recovery of a balance sheet recession (Richard Koo…

Economists = Idiots? Part 1829

It was their idea, so it’s no surprise they like paying interest on reserves, even excess reserves: For quite a while, the Fed was quite happy to have that money…

More on derivatives

…that company that manufactures patio furniture in Indiana, but that’s a trivial detail. Enough of the big boys are made whole that everyone who counts is happy. And there is…