“If we do not make people believe that we are going to fix those deficits, bring them down over time, then we will risk losing confidence in our financial future,” Geithner said.
Nothing new in this news but the above quote caught me eye. If we do not make people believe - not we have to fix the problem. The importance of management of perceptions economics (MOPE) is once again inadvertently revealed.
There's an old saying that you can fool some of the people all the time, all the people some of the time, but not all the people all the time.
Connected interests (money) will always play the game as long as it serves them. To assume, however, that anyone other than public is fooled by management of perceptions is a mistake.
Source: bloomberg.com
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