We Ignore Unintended Consequences At Our Peril

With little more than a lever to ham-fistedly move interest rates, the central planners are trying to keep the world’s debt-addiction well-fed while simultaneously kick-starting economic growth and managing the price levels of everything from stocks to housing to fine art.

But the complexity of the system, the questionable credentials of the decision-makers, and the universe’s proclivity towards unintended consequences all combine to give great confidence that things will NOT play out in the way the Fed and its brethren are counting on.

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