tag:blogger.com,1999:blog-3758330678390419129.post463307078694938047..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Madness at MIT: Economists Gone StupidRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3758330678390419129.post-22570011187562135272011-03-29T07:35:24.058-04:002011-03-29T07:35:24.058-04:00MIT used to do things like design guidance systems...MIT used to do things like design guidance systems to take people to the moon. Now they do economics. Sad.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-19409932685720224542011-01-30T11:42:18.022-05:002011-01-30T11:42:18.022-05:00This is a sad commentary on the current state of a...This is a sad commentary on the current state of affairs in America. MIT use to do things like designing the guidance system used during The Apollo Project to put humans on the moon. <br /><br />Now all they do is this crap.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-60843999077292860872011-01-29T14:01:59.942-05:002011-01-29T14:01:59.942-05:00>From there, in the report, NPR takes us to ano...>From there, in the report, NPR takes us to another mainstream fiction, that the Fed has driven rates to zero. I have discussed this, recently, in a post, Note to Economists: The Fed Funds Rate is NOT 'Essentially at Zero' <br /><br />Yes, it is at essentially zero, if you understand that the "essentially zero" refers to a historical comparison of fed funds rates.Captain_Freedomnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-23398746227493618242011-01-29T12:30:34.007-05:002011-01-29T12:30:34.007-05:00About near zero rates, I would emphasize that the ...About near zero rates, I would emphasize that the relative magnitude of the interest rates matters as much as the the spread. For example: .17% is 1.7x .10%, .10% is 10x .01%, and .01% is 100x .0001%.<br /><br />Someone telling you that you would need 1.7x, 10x, or 100x as much time to earn the same return on one loan as another loan. That's important.Anonymousnoreply@blogger.com