Central Bankers and Other Market Interference Types
Nathan Lewis, writing at Forbes in his article Central Bankers Don’t Know What They’re Doing: They’re Faking It, offers this as proof:
One of the hardest things for many people to comprehend is that the people in charge of currency management around the world – central bankers, the IMF and so forth – don’t actually know what they are doing. They’re faking it.
How do we know this? Because as soon as they are called upon to do something specific, they fail miserably.
His observation brings to mind other fakers, for example, the Administration and the Congress. They, through their economic quackery, have infused us with non-functional “solutions” to unemployment, retirement, housing, health care, the financial industry, the automotive industry, the educational industry, and more.
Policy gridlock is far preferable to fools with initiative.
While the Central Bankers may be the target of Lewis’ scorn, they’re little different than interfering government in any form.
The challenge becomes one of gracefully unwinding the many idiotic “good” things government—and the central bankers—have done.