Fed and the Buridan’s Ass Dilemma

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Fed and the Buridan’s Ass Dilemma

The Fed, in facing the choices it must make today, is a perfect illustration of the paradox of Buridan’s ass, which is equally hungry and thirsty and is placed precisely midway between a stack of hay and a pail of water. It will die of both hunger and thirst since it cannot make any rational decision to choose one over the other. This paradox is the dilemma that the Fed is facing, because any decision it could or is able to take (to increase or maintain the rates on debt unchanged) will not resolve the problem of a systemic financial default risk but simply defers it. Precisely as in the Lehman Brothers case, we will find out the day after, because people never want to see the truth until it blows up in their faces. Read more ....
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