After The Boom Cometh The Bust, Part 1

March import prices came in smokin’ hot at 6.9% YoY. What’s important about that cardinal number, however, is not its probable transiency per the daily palaver from the Fed heads, but something far bigger: Namely, that it actually nails the everlasting folly of the entire Keynesian macro-management project. During the past 12 months we have […]