Good Bubbles
As serial bubble blowers, one shouldn’t be surprised when central bankers attempt to defend the practice. This time around, it’s Fred Mishkin, claiming that not all bubbles are bad — that there are both ‘good’ and ‘bad’ bubbles.
Not surprisingly, some disagree — see here and here for more on the other side.
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“The Federal Reserve’s Lame Attempt To Defend Itself Against Bubble Creation”
Comment by BMB — 11/10/2009 @ 2:00 pm