The law of unintended consequences, often cited but rarely defined, is that actions of people, especially of government,always have effects that are unanticipated or unintended.
Economists and other social scientists have heeded its power for centuries; for just as long, politicians and popular opinion have largely ignored it.
This in from the ASSociated PRess (formerly Big O's "in-house" PR arm):
"The Federal Reserve announced a $1.2 trillion plan three months ago designed to push down mortgage rates and breathe life into the housing market.
But this and other big government spending programs are turning out to have the opposite effect. Rates for mortgages and U.S. Treasury debt are now marching higher as nervous bond investors fret about a resurgence of inflation."
Read the full story HERE.
Look's like we're still headed down...
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