Central Bank heads believe they are magicians who can wave their magic wand to create whatever economic conditions they desire. But the problem is that they are consistently wrong in their assessment of the economy so they don’t know what to do with the wand. Also, the wand is not magic but just bogus. And this is the dilemma of all central banks. They are given unlimited powers to manipulate monetary policy and to print money.But when you give infinite powers to someone who can neither assess the situation properly nor understands the consequences of his actions, it is like … Continue reading There Are No Honest Politicians