Wait until you hear about the ultimate fraud...Economists.
Look at the EU central bank and their rising on interest rates despite rising prices not proving rising demand....but they live by their model...
You get a war as external shock that makes oil scarcer while the economy is already contracting...so they hike rates, what will not create oil but crushes demand on top of a supply collapse...
Economics is always political, and economists advice reflects that. Other fields can be political, economics remains largely "political economy" with a pretence at neutrality.
Its not the ECB - many central banks are doing the same for the same reasons.
Betelbuddy · · focus · HN ↗
Look at the EU central bank and their rising on interest rates despite rising prices not proving rising demand....but they live by their model...
You get a war as external shock that makes oil scarcer while the economy is already contracting...so they hike rates, what will not create oil but crushes demand on top of a supply collapse...
graemep · · focus · HN ↗
Its not the ECB - many central banks are doing the same for the same reasons.