I am an optimist so I believe that things in the end will work itself out. I saw this a few years ago and my team and I watch it probably once a year to help us all focus on the fact that there are many possibilities ….It helps us focus on “maybe”. My scenarios could or should be thousands of scenarios affecting people in different ways.
Whoa whoa whoa, this affects everyone.
I just shove it to the back of my head and pretend it’s not real and the Monopoly money will never run.
This is good. Thank you.
Disclaimer: these are my personal views, and do not reflect my employer’s views. I work for a bank regulator (not the Fed).
Based on the podcast, Leonard seemed like a dilettante on this stuff. His answer to everything seemed to be that it was the Fed’s fault, no matter what. Like the Fed being at fault for the housing crisis and Great Recession. (What? About a billion sources needed for that claim.) The Fed is apparently also at fault for the early 2000s recession, the 2020 downturn, etc.
He also doesn’t really understand how the Fed’s monetary policy works. Maybe he dumbed it down for the podcast, but it wasn’t quite right.
I get the sense that he picked up on some Fed-critical sources and went full bore without considering other perspectives. It is not hard to go down that route. Just ask Ron Paul. I’m being glib, but is very easy to find a lot of stuff critical on the Fed.
The thing is that I think I agree with his central argument - that the Fed’s monetary policy created more inequality. That’s not the whole story, but it certainly has an effect.
I’m not sure I’m going to read the book. I don’t like reading about work in my spare time. But I am curious, and I do want to look at his sourcing.
At the UF Real Estate Conference and Chris Leonard is presenting with the session title “How The Federal Reserve Broke The American Economy”. Took me a minute to place him without Lords Of Easy Money in the title. Can’t wait to tell him I loved his TrapDraw episode.
Tell him I say hello!!!
Just had a great chat with him! He raved about how much he enjoyed the TrapDraw conversation.
This makes my day! Thank you
