#10: William White on the Undesired Side Effects of Experimental Monetary Policy
Superinvestors and the Art of Worldly Wisdom
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The Impact of Global Forces on the Economy
Corporate profits were very high leading into the crisis, but it didn't lead to more investment spending. And so we wound up in that period of great moderation with very fast growth and low inflation - then the whole thing collapsed. I'm worried about at the moment is that we may have the same kind of thing going on that the increases in capacity could be giving a continuing disinflationary impetus to the global economy.
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