tag:blogger.com,1999:blog-3758330678390419129.post7048869832688730095..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Best Evidence Top Federal Reserve Officials Have No ClueRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3758330678390419129.post-39865849754805657272021-01-08T00:02:10.856-05:002021-01-08T00:02:10.856-05:00But what else are they going to do given that the ...But what else are they going to do given that the debts (funded & unfunded) are already far too big to ever repay. (BU prof Laurence Kotlikoff estimates the fiscal gap to be over $200T.)<br /><br />As bureaucrats and political types, they really don't have much of a choice. <br /><br />They can either default on much of the debt honestly (not politically palatable) or do a slow default ucla_alum_88https://www.blogger.com/profile/08392919164123309478noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-28910184715078707112021-01-07T23:39:22.985-05:002021-01-07T23:39:22.985-05:00Agreed.
But here's the problem: their long...Agreed. <br /><br />But here's the problem: their long-term currency printing scheme is a good strategy for a massively over-indebted govt. Creditors lose and debtors win when they print. And there's no bigger debtor that the US fed govt. <br /><br />The plan won't last forever ... but they have been able to "kick the can" down the road longer than most of us thought ucla_alum_88https://www.blogger.com/profile/08392919164123309478noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-86905429083584059432021-01-05T16:38:43.932-05:002021-01-05T16:38:43.932-05:00They are "highly credentialed," not &quo...They are "highly credentialed," not "highly educated." To paraphrase Reagan, the trouble with these folks is not that they're ignorant, it's just that they know so much that isn't so.The NAPsterhttps://www.blogger.com/profile/16631781625841157567noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-60794999247740311212021-01-05T13:51:10.817-05:002021-01-05T13:51:10.817-05:00The issue with this is the fact that The Fed/Uncle...The issue with this is the fact that The Fed/Uncle Sam can always play with the PCE and CPI baskets' inputs and weighting to produce a 2% (or lower) change. Governments can always put price ceilings in place that keep the $ price unmoved while choice and availability trend downward; these negatives aren't reflected in the PCE. Fleadom of the Presshttps://www.blogger.com/profile/15758287982379711023noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-25207290753244190972021-01-05T13:33:26.593-05:002021-01-05T13:33:26.593-05:00They are educated beyond their comprehension.They are educated beyond their comprehension.Brian J. Gladishhttps://www.blogger.com/profile/08060107207216764612noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-68801202610810252702021-01-05T08:12:08.892-05:002021-01-05T08:12:08.892-05:00The phrase "inflation goals"...is that s...The phrase "inflation goals"...is that sort of like "infant-mortality goals" or "pollution-production goals"---? <br />It should always and everywhere be replaced with "Dollar-devaluation goals," in the interest of truth-in-advertising. Sui Jurishttps://www.blogger.com/profile/13797769895327734780noreply@blogger.com