The current deep financial downturn, like all recessions, is started when business people and consumers get pessimistic and stop spending or buying.
The
twelve regional Fed banks all have regulatory duties. But within them
there are often disputes as to what exactly is to be done.
Many
supervisors and regulators within the system have different
functions, with varying answers from their observations. Always, a
human element governs what they feel must be accomplished.
Errors
inevitably turn up with individual decisions and action that would
not happen when free markets determine outcome.. This fact has been
established from years of experience.
Remember
what I have said in the past about how better predictability futures
markets anticipate events, as opposed to that of a small group of
experts.(See the Earl J. Weinreb NewsHole® comments and
@BusinessNewshole tweets.)
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