The first time that their vehicle is out of control, most people make the mistake of trying to slam the steering wheel in the opposite direction to correct things. Doing so only makes the loss of control worse. What you end up wanting to do is straighten up your wheels relative to the road so at the very least your front wheels regain traction.
I'll be the first to admit that I'm not 100% sure how that analogy applies to economics and Central banking. It certainly seems like it warns us against taking extreme measures just because something bad is happening in the moment.
I'll be the first to admit that I'm not 100% sure how that analogy applies to economics and Central banking. It certainly seems like it warns us against taking extreme measures just because something bad is happening in the moment.
America has very little refining capacity and it appears there will never be any more created, so it makes sense there wouldn't be a market for additional oil in the US.
All it would take is a bit of global turmoil. If oceans become a bit less safe or easy to travel then suddenly trade needs to justify the military effort to protect it
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