Wednesday, May 18, 2016

IT CONTINUES Israeli MIT Grad Likely to Head Brazil's Central Bank

Ilan Goldfajn
The remarkable number of Massachusetts Institute of Technology connected economists heading central banks appears set to expand once again.

Haifa, Israel-born Ilan Goldfajn, formerly director of economic policy for the Central Bank of Brazil, is said to be the front-runner to replace outgoing bank chief Alexandre Tombini, reports Israel Hayom. Brazil's interim President Michel Temer is likely to make a decision by June 8.

Goldfajn earned his undergraduate and graduate degrees in economics from the Pontifical Catholic University of Rio de Janeiro, and his doctorate from MIT .

Ben Bernanke, former chairman of the Federal Reserve Bank is an MIT grad.

Current European Central Bank president Mario Drgahi is an MIT grad.

Stanley Fischer, who was the head of the central bank of Israel and who is the current vice-chairman of the Federal Reserve, studied at the London School of Economics and obtained his B.Sc. and M.Sc. in economics from 1962–1966. Fischer then moved to the United States to study at MIT and earned a Ph.D. in economics in 1969.

He was a professor at the MIT Department of Economics from 1977 to 1988.

While at MIT, he was also Ben Bernanke's and Mario Draghi's Ph.D. thesis advisor.

For even more connections see: The MIT-Central Bank Connection

-RW

9 comments:

  1. Like the financial equivalent of Skull and Bones.
    "It's a big club. And you ain't in it" - George Carlin.

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  2. Totally random and coincidental, ok? Look, a squirrel!

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  3. Just a bunch of self important vindictive little nerdlings who finally get to walk down the hall and push everyone around. We need a global movement to give them all atomic wedgies and put them back in their place.

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    1. I agree. But it is revealing that they all come from a school (MIT) that is famous for an economic professor (Samuelson) whose economic models made the most bone headed forecast in the 20th century. That the USSR's economic system would overtake the U.S. in wealth production. And he allowed this forecast to remain into the 1980's just before the USSR collapsed! I believe that the economists produced by such a failed system have such low self esteem and lack of confidence that they are willing to do anything the politicians ask.

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    2. The economists are just altar boys giving a reading at mass. They are there to placate the anxiety of the more intellectually inclined human cattle while they're being milked. Not everyone can be placated with bread and circuses. Their job is to whisper sweet nothings in your ear while the state takes what it wants.

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    3. The Keynesian system that produces these intellectual frauds is certainly an abysmal failure, even by it's own policy standards. However, I think it's erroneous to suppose that these central banking apparatchiks have low self esteem and lack confidence. If anything the opposite is true and they are supremely over confident and bursting at the seams with self regard. After all, they are MIT trained Masters of the Universe and the rest of us are mere mortals with piddling IQ's burdened by hopelessly retrograde and heterodox ideas about self regulating free markets and sound money.

      They think of themselves as the vanguard of an unassailable and unquestionably superior theoretical system that can do no wrong. Which is why they admit no error, make no apologies and double down on every policy that has ever failed. In their world if X fails you simply employ X times 2, or 3, or 4, ad infinitum. Their manifold failures do not reduce their fanatical self confidence by so much as a scintilla.

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    4. Perhaps you are correct. But their willingness to blow their own horn no matter what the results of their policies leads me to believe otherwise. If its one thing I am certain about regarding the academic set it is that the ones who float to the top are shameless self-promoters. The system allows no other way to advance their careers. And the truth or falsehood of their ideas is meaningless in the statist peer reviewed atmosphere of academia. They become experienced politicians and respond lovingly to the politicians in government and its bureaucracies. Their greatest fear is that someone will discover they have no self-esteem and hold them accountable so they shout loudly about their "greatness." Men of true self-esteem simply take action and succeed or fail on their own merits and take the consequences.

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  4. The looting continues, the neocons will end up turning South American into an other failed region just like the Middle East and then the U.S. will face a refugee crisis on par with that of Europe's.

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    1. I believe they already have accomplished that. It's just going to continue to grow.

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