tag:blogger.com,1999:blog-3758330678390419129.post3042565933767145868..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: A Hint of Austrian Business Cycle Theory in NYT?Robert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-3758330678390419129.post-53297631824836758532015-08-31T21:18:46.772-04:002015-08-31T21:18:46.772-04:00"Interest rates are determined by supply and ..."Interest rates are determined by supply and demand."<br /><br />Interest rates are determined by MANIPULATED supply & demand, hence the interest rates themselves are manipulated.<br /><br />Really, who seriously thinks the actions the Fed and various gov't appendages take in regard to supply/demand isn't specifically targeting interest rates?<br /><br />I guess Krugman for Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-41201825273072483242015-08-31T19:03:22.806-04:002015-08-31T19:03:22.806-04:00FYI:
In a post yesterday commenting on Paul Krugm...FYI:<br /><br /><i>In a post yesterday commenting on Paul Krugman’s takedown of a silly and ignorant piece of writing about monetary policy by William Cohan, Scott Sumner expressed his annoyance at the level of ignorance displayed people writing for supposedly elite publications like the New York Times which published Cohan’s rant about how it’s time for the Fed to show some spine and stop Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-80201390008331336412015-08-30T22:11:01.337-04:002015-08-30T22:11:01.337-04:00Interest rates are determined by supply and demand...Interest rates are determined by supply and demand. There are many govt programs that increase demand for money You have the Fed buying bonds, you have mortgage interest deduction, you have bankruptcy courts that provide debt relief. But make no mistake that the laws of supply and demand determine the interest rate. The Fed does not simply dictate a interest rate other than the discount rate. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-20426946012242225092015-08-30T09:01:57.410-04:002015-08-30T09:01:57.410-04:00Astute observation that you smell policy change in...Astute observation that you smell policy change in the air. Being principled ourselves, we sometimes mistakenly presume TPTB and their minions are principled as well. We give them too much credit as being committed Keynesian ideologues. They are, but only at the times and to the extent it suits them to be. I.e., they want to publicly justify printing some money.<br /><br />When they no longerAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-72986863641216261162015-08-30T01:19:43.172-04:002015-08-30T01:19:43.172-04:00Probably part of the set up to blame the free mark...Probably part of the set up to blame the free market. They'll inject a little free market economics just before the bust phase and they'll a scapegoat. They'll then have academics blame the Austrian school for the crash. <br /><br />oooBooonoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-35182991053454679502015-08-29T22:52:02.434-04:002015-08-29T22:52:02.434-04:00Funny isn't it? This so-called economist (Krug...Funny isn't it? This so-called economist (Krugman) is such a joke.Johnnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-4055428476143058282015-08-29T21:23:50.020-04:002015-08-29T21:23:50.020-04:00Ohhh...this is so fun...Cohan's write up actua...Ohhh...this is so fun...Cohan's write up actually pissed off Krugman:<br /><br />http://krugman.blogs.nytimes.com/2015/08/29/artificial-unintelligence/?smid=tw-nytimeskrugman&smtyp=cur&_r=0<br /><br />Here's the funniest statement the Nobel Prize winner makes in his rant against Cohan:<br /><br />"OK, there are arguments that the Fed should be willing to abandon its inflationNick Badalamentihttps://www.blogger.com/profile/14015961786370759940noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-89840797947668539872015-08-29T20:28:51.641-04:002015-08-29T20:28:51.641-04:00Let me see if I've got this right...a short wh...Let me see if I've got this right...a short while ago the BIS said there's too much debt, two former Fed chairs said QE was wrong, the St. Louis Fed said the other week that QE didn't deliver intended results, now the paper of record, (i.e. the American Establishment), prints an article that says money is a commodity and it's cost should be determined by a free market?<br /><br />Anonymoushttps://www.blogger.com/profile/05638992391465831066noreply@blogger.com