By MN Gordon – Economic Prism
Undoing the radical and extreme money printing gala that took place from 2020-22 was never a realistic proposition. The failure to remove the massive pile of reserves added to the Fed’s balance sheet during the 2008-13 money printing episode had already demonstrated this.
John Maynard Keynes, Fabian socialist and the godfather of modern day economic planning, in his 1935 work, The General Theory of Employment, Interest and Money, wrote:
“Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”