Sinais

Bill Fleckenstein (MSN Money) says that the next Fed chairman should "Be well-versed in the so-called Austrian School of Economics.... a school of economic thought championed by, among others, Nobel laureate Friedrich von Hayek. The Austrians deny that a central bank, such as the Fed, can work economic miracles by juggling interest rates. In effect, the Austrians hold, interest rates are the traffic signals of a market economy. Turn them all green, and what you get are lots of pileups." Via LvMBlog