Lessons from Zimbabwe: Economy is Not the Same as the Stock Market In a Paper Money Environment

April 18, 2012

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People starving, a broke country with no industry, but the stock market zoomed to make it one of the best performing stock markets ever, in nominal terms – quite a valuable lesson.  How are central banks doing anything other than pursuing Zimbabwe-light economics? The ivory towers are impenetrable; central bank independence is gospel; it must end in tears, but need not for a skilled trader who can their wits, discipline, and foresight. (nice to see the HP12C make a cameo).

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