Paul Krugman: The Fed is not a rogue trader and historical norms for interest rates aren't relevant in a persistently depressed, deleveraging economy. But traders continue to lash out and claim, "It's all fake!"
The citizens' ballot initiative or referendum, created in the first Gilded Age to counter plutocratic governance, is overmatched in new Gilded Age.
Dilip Hiro is the author of 32 books, the latest being After Empire: The Birth of A Multipolar World (Nation Books). His upcoming book on jihadists in South Asia will be published by Yale University Press later in the year.