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overtheedge
Member since May 2012
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When Will the Fed Tighten? Never.

- Rick Ackerman -

Good article. Perhaps more emphasis on the growth of money/substitutes by banks through fractional banking and derivatives would really get the message through to the audience. However ... ,

"... and the Paul Krugmans of the world no choice but to acknowledge the epic hoax that sustained it."

Never gonna happen. They have made economics into a religion. Religion is based upon faith aka belief. Ergo no evidence, however compelling, that disputes the dogmatic belief system can never be acknowledged as factual. Economics is not and can never be a science. It has always been a philosophy aka reasoned opinion. Some famous guy said something to the effect that, "It isn't what you know that gets you in trouble, it is what you KNOW that ain't so that does." And that is the problem with philosophy.

And by the way, Krugman is NOT a Nobel prize winner. The prize is the “Sveriges Riksbank (Swedish Central Bank) Prize in Economic Sciences in Memory of Alfred Nobel.” Claiming a banker's prize is a Nobel is no different than putting lipstick on a pig. At the end of the day, it is still a pig. Tis time to open that bottle of barbecue sauce.

Commented 3724 days ago

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Beginning of the headline :I worked some numbers over the weekend in order to refine my forecast for Fed policy. One prediction that has stood the test of time is that any real tightening by the central bank is as likely as a Martian invasion. Turns out that when you crunch the latest data available, a Martian invasion winds up being 1.835 times as likely as any Fed tightening now or in the future. The formula I used to handicap this bet is proprietary and somewhat esoteric, so I won’t go into it here. But the bottom line... Read More

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