Sunday, March 6, 2011

Fed Economist: People Are Callling Me Names, So I Am Taking Down the Post Where I Called Ron Paul a Pinhead Who Is Making Stupid Arguments

Following my analysis of St Louis Federal Reserve economist David Andolfatto's absurd attack on Ron Paul, Andolfatto has pulled down his post Ron Paul’s Money Illusion. He says he has done so for the following reason: 
I've taken down my post entitled "Ron Paul's Money Illusion" because it seems to have provoked mindless rage rather than thoughtful debate.
I'm not sure what he is calling mindless rage, but I remind readers that in the attack on Ron Paul, which he has now pulled, he calls Congressman Paul a pinhead and says the Congressman's argument, that a 95% plus decline in the value of the dollar is destructive, is a "stupid argument."

I can't wait for his new column where he promises to write more carefully and where he promises to include data that will prove a 95% plus loss in value of the dollar is no big deal.

BTW: Although he has pulled his attack article on Ron Paul from his site, it remains up at the Wall Street Pit.


  1. Just posted on Mr. Andolfatto's site:


    You say you "chuckle whenever he (Paul) berates the Fed for creating money “out of thin air”"

    Do you chuckle in Bernanke's face when he speaks of "printing money"?

    You may "chuckle" when Paul speaks the truth, but the rest of American is having a good "chuckle" at the expense of THE FED.

  2. This Andolfatto is either disingenuous or (sseing his day job) worryingly thoughtless. "Money neutrality" as a counter-argument would be fine if everyone gets the increase at the same time and the same rate. But they don't.

  3. I did not see any "mindless rage" in the comments on the article on the Wall Street Pit site. I did, however, read many good questions and comments that were just ignored by the author.