Most people think that the Fed should play the role of referee in a game whose rules are fixed and based on experience, intelligence and do I dare say wisdom?
Without the ability to call fouls and make real punishments for too many fouls, (five fouls and you are out of the game) referees are of no use.
Your metaphor of fleas giving orders to the dog fits our present financial situation, unfortunately.
Nine Months Later: Some Annual Predictions from the Financial Press [View article]
He always told the truth about the investment advice record of the big boys:
They are wrong more often than they are right, even in an up market. But that's a truth no one wants to hear.
The Fed's 'Suez Crisis' [View article]
Without the ability to call fouls and make real punishments for too many fouls, (five fouls and you are out of the game) referees are of no use.
Your metaphor of fleas giving orders to the dog fits our present financial situation, unfortunately.
Woof, woof.