The other day, RtO reviewed Barry Eichengreen's "Hall of Mirrors." Although I admire Eichengreen's analysis (there and in other books such as "Exorbitant Privilege") there is one item where we are far apart: business confidence.
Here we go stating again what should be obvious: business confidence is dangerous.
When is business confidence at its highest? Just before a financial collapse.
I rest my case.