Ive always wanted a cognitive bias named after me. There is probably already a name for this, but its hard to search for these things on Google.
So lets take Japan, for example. Japan does quantitative easing.
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If it works, it is declared a success and they do more.
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If it doesnt work, it means they need to do more.
Japan has done a lot of quantitative easing.
Ill give you another one. Dodd-Frank was really meant to prevent bond traders from earning a million dollars. It has been successful, but as an unintended consequence, it has reduced liquidity. Now the SEC is regulating mutual funds even more to address the liquidity problems.
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If the regulations work, they are declared a success and they write…
Read the full article at: http://www.businessinsider.com.au/central-banks-are-running-out-of-tricks-so-now-it-might-be-time-to-try-actual-capitalism-2016-3