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Dear Fed Hagiographers, "Liquidity" Can't Be Decreed
John Tamny
RealClearMarkets April 11, 2020
" (AP Photo/Jacquelyn Martin)
No act of saving ever subtracts from demand. Ever. Short of a saver literally stuffing unspent wealth under a mattress, saving is merely the act of shifting consumptive ability to someone else with...
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