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Many investors forget that when the easy money is flowing, financial mediocrities and even outright frauds can be made to look like legitimate geniuses.
American political, educational, and economic life is increasingly dominated by "experts." We should not be surprised that they fail most of the time.
Free MarketsGlobal EconomyWorld History
The standard line from progressives is that free markets usually fail in developing countries. The economic numbers tell a much different story.
Geuss claims to be a liberal against liberalism. Given that he has praised Lenin and Mao, that part about being against liberalism is certainly true.
Ours is an age of the progressive expert who nearly always is wrong but still is embraced by progressive politicians, the media, and academe.
Cheap money in the last decade has meant good times for companies that barely make money and hire employees who barely work. But those times are now ending.
The Federal Reserve has not only mismanaged the US economy; even its own "portfolio" is underwater.
One might assume that new rounds of monetary stimulus will bring new peaks in housing construction, reversing the ongoing housing shortage. That hasn't happened.