Fekete was one of the few old Europeans to recognize the central role of money: on the positive side as a means of amicable division of labor, on the negative side as a casualty and lever of political intervention.
Normally the boosters of renewable energy point with pride to Texas, yet when wind collapsed during the deep freeze, suddenly even its biggest fans admit that nobody ever thought it could do the same job as natural gas.
Here's a likely reason the Fed has chosen to hide its data on government deposits: the explosion of Treasury deposits at the fed “fuels … suggestions that the Fed is directly financing the government [and] foster[s] uncertainty about central bank independence.”
Some may remember all that talk about a "V-shaped recovery" last year. That was back when we were being assured that just a few weeks of lockdowns was going to bring the economy roaring back. Clearly, that never happened.