Jun 15, 2020

Jim Grant on how leveraged finance leads to complacency

Maybe it's in the nature of leveraged finance that prosperity leads to complacency and complacency to error and error to crisis.  But how much more explosive is this chain of causation when complacency has an official sponsor in the Federal Reserve Board.

~ Jim Grant, "Chairman Powell meets Professor Goodhart," Grant's Interest Rate Observer, June 12, 2020

Jenga - Wikipedia

No comments: