Hubris, Central Planning, and Market Reality

Scott Bessent boasting “I am the house” and trying to talk down the dollar is the classic hubris of a central planner.

As Martin Armstrong points out, we saw this exact political vanity with the 1985 Plaza Accord—and the market responded with the 1987 crash.

Bureaucrats cannot dictate currency values by fiat; when state command-and-control clashes with global capital flows, the market always wins and the planners always lose.

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