Posted on September 18, 2016 by The Amateur Society
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In the past I’ve written about how our economic and governmental institutions are currently maintained because of a perception of confidence. In A Collapse in Credibility I anticipated a hastening erosion of confidence in the Federal Reserve. Fast forward three months and even mainstream media outlets are questioning the effectiveness of the ongoing emergency monetary policy at the Fed in light of their lies concerning data dependence and their lack of direction. Some are even openly declaring that the unprecedented monetary policy pursued over the last decade has failed. While this was by no means a difficult forecast, to this day it remains opaque to those who hold on to the beliefs that the Fed has their best interests in mind, is focused only on its stated objectives, has the power to achieve its stated objectives, and provides accurate forecasts.