tag:blogger.com,1999:blog-3758330678390419129.post2137406092754146334..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: How the EPJ Word Gets OutRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-3758330678390419129.post-29351051481685408082012-05-17T22:16:54.874-04:002012-05-17T22:16:54.874-04:00Pete, you're confusing the assumption of const...Pete, you're confusing the assumption of constancy in a general sense (that causality exists in the broadest form) with the assumption of constancy over time in a market economy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-34618599697615775872012-05-17T17:52:45.232-04:002012-05-17T17:52:45.232-04:00I am not making any constancy assumption.
I know ...<i>I am not making any constancy assumption.</i><br /><br />I know you don't think you're doing it.<br /><br />What then is the foundation for "If M2 growth goes from 20% to 6%, then sluggish economy" and "If M2 growth goes from 10% to 1%, then crashing economy", if it's not constancy between this change in M2 growth and the outcome?<br /><br />If today M2 growth Petenoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-79133110397695007302012-05-17T16:58:44.280-04:002012-05-17T16:58:44.280-04:00Pete,
I am not making any constancy assumption. Y...Pete,<br /><br />I am not making any constancy assumption. You just used 5 paragraphs to prove your point. If I had to put that all these paragraphs of "constancy" disclaimer in every post on money supply, I would have as little traffic as you do at your blog.<br /><br />This is a live on going blog where all bases are eventually touched, all of ABCT is not going to be found in one Robert Wenzelhttps://www.blogger.com/profile/14296920597416905488noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-40613116733860572712012-05-17T16:43:56.228-04:002012-05-17T16:43:56.228-04:00Please note that you cannot escape this constancy ...Please note that you cannot escape this constancy assumption presupposed in prediction making by saying something like "OK Pete, I grant that we cannot say that going from 20% to 6% will <i>always</i> generate a sluggish economy. For I accept that <i>6% M2 growth will lose effectiveness over time</i>." You can't even say "6% will LOSE effectiveness over time" without Petenoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-79614711657082699742012-05-17T15:47:52.107-04:002012-05-17T15:47:52.107-04:00RW:
I am not saying you need to put in every post...RW:<br /><br />I am not saying you need to put in every post the full ABCT. <br /><br /><i>I outline reasons in the Alert for my holding this view, but it is to voluminous to put here.</i><br /><br />Could you put that in your posts next time? Because when I read something like this:<br /><br />"20% plus, at the end of last year and that it had slowed to 6% since, which is why we now have Petenoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-17951910365338478882012-05-16T20:38:39.415-04:002012-05-16T20:38:39.415-04:00If m2 is the right indicator, what I would like to...If m2 is the right indicator, what I would like to know is how you could explain the lack accelerating inflation so far? You've been awfully quiet about inflation lately and only show up to talk about it when a few blips show up, but the decelerating trend this past year has been quite clear. <br /><br />Back in late 2010/early 2011, m2 growth was not anything crazy. I believe it grew Desolation Jonesnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-14028748679453772322012-05-16T18:49:30.173-04:002012-05-16T18:49:30.173-04:00Pete,
I have covered all your points in the EPJ D...Pete,<br /><br />I have covered all your points in the EPJ Daily Alert, including the fact that the 6% growth becomes less effective over time.<br /><br />As for the post above, it is just that as a post, I can't put in every post a full explanation of business cycle theory. Especially when I am relating what someone else said.<br /><br />Further, in many other posts, I have commented on how Robert Wenzelhttps://www.blogger.com/profile/14296920597416905488noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-39721178774106468842012-05-16T17:52:27.330-04:002012-05-16T17:52:27.330-04:00Wenzel, you're making the same mistake you acc...Wenzel, you're making the same mistake you accuse Fed economists of making: You are presuming a constancy relation in human action. You are clearly insinuating a constant relationship between money supply growth rates and how people act, i.e. what the economy looks like.<br /><br />You say 6% is related to a "sluggish" economy. You say 20% is related to a "booming" Petenoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-9369028976935193672012-05-16T17:24:18.380-04:002012-05-16T17:24:18.380-04:00Very cool. I'd like to know what their reactio...Very cool. I'd like to know what their reaction was.Tomhttps://www.blogger.com/profile/00964737733311401148noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-66531847020498969322012-05-16T16:49:57.216-04:002012-05-16T16:49:57.216-04:00Hope he doesn't get religion today and read th...Hope he doesn't get religion today and read that post!!!Capn Mikenoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-72332542065425313482012-05-16T16:18:48.128-04:002012-05-16T16:18:48.128-04:00This makes perfect sense, you privatize the winnin...This makes perfect sense, you privatize the winning thought and socialize any losing ones.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-34511861588233310822012-05-16T16:14:54.522-04:002012-05-16T16:14:54.522-04:00Gotta take whatever you can get!Gotta take whatever you can get!Difsterhttp://difster.blogspot.comnoreply@blogger.com