It is an unconscious perception of the world that causes us to see mass slaughter of some animals but not others as normal, and tells us we should not get too worked up about it.
Correlation is not causation. Significant and sustained stock market declines are almost always the result of Fed tightening.
Simon Johnson, former chief economist of the International Monetary Fund, is a professor at the MIT Sloan School of Management, a senior fellow at the Peterson Institute for International Economics, and a member of the CBO’s Panel of Economic Advisers. He is a co-founder of The Baseline Scenario.