Sunday, April 29, 2012

Tyler Cowen Speaks

But I have no idea what he is saying:
Right now we Americans are building back up to better equilibria, slowly, by showing that our economic institutions are not totally crummy.  This process can take a good while, but in fact our recovery is going better than many people believe.
We are moving "back up to better equilibria"?

"[O]ur economic institutions are not totally crummy"?

What equilibria? What economic institutions? The Fed? The Treasury? The global banks?

The only thing that is going on in the U.S. right now is stop and go crazed Fed money printing and DC created crony capitalism, both of which should be flushed down the toilet. There is no equilibria (as if there ever could be). There are no sound economic institutions. The Fed and Treasury are run as though Bernie Madfoff was in charge and the major banks survive only because the Fed provides them with life support money injections.

Does Tyler not understand this?


  1. Joe Weisenthal tweeted today:

    "People shouldn't discount all this #growth chatter. Changing away from destructive policy has to start somewhere."

    Huh...growth...changing away from destructive policy.

    Quite a story these people are spinning.

  2. He's wrong, the only way to solve everything is to reverse the polarity of the neutron flow.

  3. You have to understand "establishment speak" for "building back up to better equilibria." It means "we establishment types have been bailed out and we're making out pretty well. Everyone else is headed for squalor, but 'oh well....'."