Deja Vu: The Fed’s Interest Rate Dilemma

Despite record passenger traffic, airlines are bleeding cash and going bankrupt. Food riots have cropped up around the world, Canada is paying farmers to kill pigs because feed costs too much, and rice, it seems, is in very short supply.

While ethanol subsidies have created havoc, they don’t explain everything


What’s missing in most analysis is the impact of inflationary monetary policy. Since 2001, and especially since September 2007