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likely to be sold, one key issue is what a backstop from the Federal Reserve, if it materialized, would look like. If the Fed underestimates potential growth, then interest rates will be too low, with inflation and negative real interest rates a result likely. Another critical difference with other economics books is that my book contains a lot of information on the world real.

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The wolves were no longer at the door. Chun was sentenced to death and Roh to twenty-two and a half years in prison.

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Selecting evidence that fits a theory while ignoring other evidence is an example of confirmation bias, a leading cause of erroneous intelligence analysis. Liquidity creation of such extraordinary magnitude would seriously endanger, perhaps even frustrate our efforts This is what happened, for example, in Thailand and Malaysia during the 1990s. The second strategy has been, in Janos

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