"The fact that a believer is happier than a sceptic is no more to the point than the fact that a drunken man is happier than a sober one. The happiness of credulity is a cheap and dangerous quality."
—George Bernard Shaw
Fixing the Fed’s Balance Sheet Requires a Market-Based Approach
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Balance sheet reform requires a return to a market-based system, not a
system that requires government interference with either the demand or
supply of res...
19 minutes ago
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