GR-NEAM Reflections: 06/01/2012 - Every Economist's Career Ends in Failure - The Irony of Hyman Minsky

Central banks are caught between the irresistible forces of debt reduction and the immovable risk of flooding the financial system. The greater the stakes, the greater the risks. We sympathize with their predicament but do not agree the answer is for a few wise men and women to make it up as they go along. Rules matter.