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https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
On Wed, 29 Jun 2022 17:50:45 -0700, John Larkin
jlarkin@highland_atwork_technology.com> wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
Canadian economists are no better.
https://wolfstreet.com/2022/06/24/inflation-forecasts-arent-worth-the-paper-theyre-written-on-this-is-about-the-bank-of-canadas-reaction-to-inflation-but-its-the-same-in-the-us-a/
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
On 06/29/2022 08:17 PM, jlarkin@highlandsniptechnology.com wrote:
On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
edward.ming.lee@gmail.com> wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Or he doesn\'t understand basic economics.
Considering about 400 Ph.D economists work for the Fed you\'d think one
or two would have some grasp.
Ed Lee wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Yeah, but *when*? Variable lags will kill your ability to predict things.
On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com
wrote:
Ed Lee wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Yeah, but *when*? Variable lags will kill your ability to predict things..
If people don\'t understand control theory.
On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcargil99@gmail.com
wrote:
Ed Lee wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Yeah, but *when*? Variable lags will kill your ability to predict things.
If people don\'t understand control theory.
On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcargil99@gmail.com
wrote:
Ed Lee wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Yeah, but *when*? Variable lags will kill your ability to predict things.
If people don\'t understand control theory.
rbowman wrote:
On 06/29/2022 08:17 PM, jlarkin@highlandsniptechnology.com wrote:
On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
edward.ming.lee@gmail.com> wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Or he doesn\'t understand basic economics.
Considering about 400 Ph.D economists work for the Fed you\'d think one
or two would have some grasp.
Considering more than 400 engineers work for Boeing, you\'d think
the 737MAX would work.
It\'s like that...
On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com
wrote:
Ed Lee wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Yeah, but *when*? Variable lags will kill your ability to predict things.
If people don\'t understand control theory.
On 07/01/2022 06:19 PM, John Larkin wrote:
On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com
wrote:
Ed Lee wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Yeah, but *when*? Variable lags will kill your ability to predict things.
If people don\'t understand control theory.
If PID loops worked like economists the world would be filled with
industrial disasters.
On 07/01/2022 06:12 PM, Les Cargill wrote:
rbowman wrote:
On 06/29/2022 08:17 PM, jlarkin@highlandsniptechnology.com wrote:
On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
edward.ming.lee@gmail.com> wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Or he doesn\'t understand basic economics.
Considering about 400 Ph.D economists work for the Fed you\'d think one
or two would have some grasp.
Considering more than 400 engineers work for Boeing, you\'d think
the 737MAX would work.
It\'s like that...
https://www.cnn.com/2022/06/30/politics/us-hypersonic-missile-test-fails/index.html
When I graduated in the \'60s RPI, the oldest technological university in
the US, was ranked in the top 3, trading places with MIT and Cal Tech.
Now it\'s tied with Florida State at #55, but it has one hell of a
performing arts center:
https://www.empac.rpi.edu/about
Maybe Boeing, General Atomics, and so forth didn\'t get the memo... This
was decades ago but when my brother worked for Boeing they would hire a
fresh crop of engineers and fire most of them after evaluating their
performance for a year. Chopping out deadwood probably is a lot harder
in these kinder times. Unfortunately reality intrudes when you\'re
dealing with missiles and aircraft.
Parenthetically, the CHGB is destined for the Zumwalt, another expensive
design that doesn\'t work too well.
Chopping out deadwood probably is a lot harder
in these kinder times.
On Friday, July 1, 2022 at 5:19:21 PM UTC-7, John Larkin wrote:
On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com
wrote:
Ed Lee wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Yeah, but *when*? Variable lags will kill your ability to predict things.
If people don\'t understand control theory.
Nah; if it were only control theory, they\'d have had it sussed. What fails,
is human response - like when they think someone\'s lying. FDR could
convince folk to trust banks after a bank holiday... that\'s not an economics
science application, it\'s effective social engineering.
rbowman wrote:
On 07/01/2022 06:12 PM, Les Cargill wrote:
rbowman wrote:
On 06/29/2022 08:17 PM, jla...@highlandsniptechnology.com wrote:
On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
edward....@gmail.com> wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Considering more than 400 engineers work for Boeing, you\'d think the 737MAX would work.
It\'s like that...
https://www.cnn.com/2022/06/30/politics/us-hypersonic-missile-test-fails/index.html
When I graduated in the \'60s RPI, the oldest technological university in
the US, was ranked in the top 3, trading places with MIT and Cal Tech.
Now it\'s tied with Florida State at #55, but it has one hell of a
performing arts center:
https://www.empac.rpi.edu/about
Maybe Boeing, General Atomics, and so forth didn\'t get the memo... This
was decades ago but when my brother worked for Boeing they would hire a
fresh crop of engineers and fire most of them after evaluating their
performance for a year. Chopping out deadwood probably is a lot harder
in these kinder times. Unfortunately reality intrudes when you\'re
dealing with missiles and aircraft.
Boeing et al are run by the finance people. After all, the anthropic principle is a harsh mistress.
Chopping out deadwood probably is a lot harder in these kinder times.
Engineering labor is a seller\'s market now. It\'s not out of kindness, either. It\'s all the billions sloshing towards Gomorrah... er, Silicon Valley.
We\'re overdue for a nice bust, I think. No, not *that* kind of bust - an economic one.
Anthony William Sloman <bill....@ieee.org> wrote:
On Sunday, July 3, 2022 at 8:57:48 AM UTC+10, Les Cargill wrote:
rbowman wrote:
On 07/01/2022 06:12 PM, Les Cargill wrote:
rbowman wrote:
On 06/29/2022 08:17 PM, jla...@highlandsniptechnology.com wrote:
On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
edward....@gmail.com> wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
We\'re overdue for a nice bust, I think. No, not *that* kind of bust - an economic one.
Economists - for all their perceived incompetence - have gotten a lot better at avoiding full-fledged depressions in recent decades.
They may not know enough about the beast they are trying to be able use control theory to keep it pointed exactly in the right direction, but they do seem to know enough to keep going in more or less the right direction.
Compared to other regulars, Bozo contributes practically nothing
except insults to this group.
The reason Bozo cannot figure out how to get Google to keep from
breaking its lines in inappropriate places is because Bozo is
CLUELESS...
On 06/29/2022 08:17 PM, jla...@highlandsniptechnology.com wrote:
On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
edward....@gmail.com> wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or otherwise) drives inflation. But it\'s easier to say I didn\'t know than to say I lied to you.
Or he doesn\'t understand basic economics.
Considering about 400 Ph.D economists work for the Fed you\'d think one
or two would have some grasp.
On Saturday, July 2, 2022 at 10:19:21 AM UTC+10, John Larkin wrote:
On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com
wrote:
Ed Lee wrote:
On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/
I doubt that he doesn\'t understand increased liquidity (pandemic or
otherwise) drives inflation. But it\'s easier to say I didn\'t know
than to say I lied to you.
Yeah, but *when*? Variable lags will kill your ability to predict things.
If people don\'t understand control theory.
The economy is a complex non-linear system. Control theory works for linear systems, or systems you can linearise. Real systems tend to stop looking linear or linearisable when they hit the rails. John Larkin seems to think that economists ought to be able to do as well at controlling a really complex system as he can do on much simpler systems, so the failure of understanding is all his.