OT economists...

[server]

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.



--

Anybody can count to one.

- Robert Widlar

 

[server]

On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.



--

Anybody can count to one.

- Robert Widlar

 

[Phil Hobbs]

jlarkin@highlandsniptechnology.com wrote:

On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

My father had a standard line about that--he said he wanted to hire a
one-armed economist, because he was sick of being told \"on one hand,
this, on the other hand, that.\"

Cheers

Phil Hobbs

--
Dr Philip C D Hobbs
Principal Consultant
ElectroOptical Innovations LLC / Hobbs ElectroOptics
Optics, Electro-optics, Photonics, Analog Electronics
Briarcliff Manor NY 10510

http://electrooptical.net
http://hobbs-eo.com

 

[Joe Gwinn]

On Wed, 01 Jun 2022 09:36:28 -0700, jlarkin@highlandsniptechnology.com
wrote:

On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

The issue here is who is saying it, not when they arrived at the
party. His influence on Wall Street is immense.

..<https://en.wikipedia.org/wiki/Jamie_Dimon>

Joe Gwinn

 

[John Larkin]

On Wed, 01 Jun 2022 14:23:08 -0400, Joe Gwinn <joegwinn@comcast.net>
wrote:

On Wed, 01 Jun 2022 09:36:28 -0700, jlarkin@highlandsniptechnology.com
wrote:

On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

The issue here is who is saying it, not when they arrived at the
party. His influence on Wall Street is immense.

.<https://en.wikipedia.org/wiki/Jamie_Dimon

Joe Gwinn

Not as immense as artificially forced zero interest rates and massive
spending.

At zero interest, everybody dumps savings and buys stocks. And
government can borrow and spend without limit. At zero interest, you
don\'t have to pay back loans.

Fun, while the party lasts.



--

If a man will begin with certainties, he shall end with doubts,
but if he will be content to begin with doubts he shall end in certainties.
Francis Bacon

 

[John Larkin]

On Wed, 1 Jun 2022 13:27:18 -0400, Phil Hobbs
<pcdhSpamMeSenseless@electrooptical.net> wrote:

jlarkin@highlandsniptechnology.com wrote:
On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.



My father had a standard line about that--he said he wanted to hire a
one-armed economist, because he was sick of being told \"on one hand,
this, on the other hand, that.\"

Cheers

Phil Hobbs

Macroeconomics is not much different from astrology or witchcraft.

--

If a man will begin with certainties, he shall end with doubts,
but if he will be content to begin with doubts he shall end in certainties.
Francis Bacon

 

[Ed Lee]

On Wednesday, June 1, 2022 at 11:36:48 AM UTC-7, John Larkin wrote:

On Wed, 01 Jun 2022 14:23:08 -0400, Joe Gwinn <joeg...@comcast.net
wrote:

On Wed, 01 Jun 2022 09:36:28 -0700, jla...@highlandsniptechnology.com
wrote:

On Wed, 01 Jun 2022 09:33:55 -0700, jla...@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

The issue here is who is saying it, not when they arrived at the
party. His influence on Wall Street is immense.

.<https://en.wikipedia.org/wiki/Jamie_Dimon

Joe Gwinn
Not as immense as artificially forced zero interest rates and massive
spending.

At zero interest, everybody dumps savings and buys stocks. And
government can borrow and spend without limit. At zero interest, you
don\'t have to pay back loans.

Fun, while the party lasts.

Well, a year ago, if not long, i posted here that inflation will be big problem and go high on oil/gas. I did not foresee the RU/UA war, but everything else was in place. I was ridiculed with transitory inflation. Even Yellen now admit their mistakes.

 

[Joe Gwinn]

On Wed, 01 Jun 2022 11:36:37 -0700, John Larkin
<jlarkin@highland_atwork_technology.com> wrote:

On Wed, 01 Jun 2022 14:23:08 -0400, Joe Gwinn <joegwinn@comcast.net
wrote:

On Wed, 01 Jun 2022 09:36:28 -0700, jlarkin@highlandsniptechnology.com
wrote:

On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

The issue here is who is saying it, not when they arrived at the
party. His influence on Wall Street is immense.

.<https://en.wikipedia.org/wiki/Jamie_Dimon

Joe Gwinn

Not as immense as artificially forced zero interest rates and massive
spending.

Yes, but that is not yet within his power.

But he would make a fine Secretary of the Treasury.

At zero interest, everybody dumps savings and buys stocks. And
government can borrow and spend without limit. At zero interest, you
don\'t have to pay back loans.

Yep. Inflation also causes people to covert savings into tangible
things of intrinsic value.


>Fun, while the party lasts.

The midterm elections this coming November will be very interesting.

Joe Gwinn

 

[Martin Brown]

On 01/06/2022 19:38, John Larkin wrote:

On Wed, 1 Jun 2022 13:27:18 -0400, Phil Hobbs
pcdhSpamMeSenseless@electrooptical.net> wrote:

jlarkin@highlandsniptechnology.com wrote:
On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

My father had a standard line about that--he said he wanted to hire a
one-armed economist, because he was sick of being told \"on one hand,
this, on the other hand, that.\"

That is a problem with all theoreticians. Many possible explanations of
any graph but only one of them is right and sometimes none of them are.

> Macroeconomics is not much different from astrology or witchcraft.

That is unkind to them even though I do view them as without doubt the
most dismal science. In no other intellectual endeavour do researchers
prostitute themselves for Mammon except for \"Economics\" Nobel laureates.
Long Term Capital Management being the canonical example.

https://en.wikipedia.org/wiki/Long-Term_Capital_Management

Problem is that like with quantum mechanics all economics experiments
and bankers utterances can seriously affect the systems that they are
trying to measure, control and model. I once had a chance to play with
the UK economic modelling program and it does get the basics right.

Problem is the real world doesn\'t ever behave like the model. A few
select insiders get advanced warning from friends and so the system is
not fair in the sense that all players have equal access to information.

It is best summed up by what the CEO of Lloyds of London said about the
unlucky naive names made bankrupt by being lumbered with asbestos
syndicate losses \"If God had not intended them to be shorn Hr would not
have made them sheep\". Far enough back to have a historical perspective.

https://www.theguardian.com/money/2000/nov/04/business.personalfinancenews1

What it can do nothing about is black swan events like the idiocy of
Brexit or external factors like the Russian invasion of Ukraine and the
resulting huge and rapid increase in energy prices.

Markets consist of mostly stupid greedy individuals doing what they
think will make them the most money and bonuses in the short term. It is
no surprise that they are unstable. Invention of new ways to con people
with paper based frauds that earn big for early investors whilst robbing
the latecomers are legend and have been ever since ancient times.

Bank of England issues stern warnings about this sort of thing roughly
every 50 years or so. Tulip mania, South Sea bubble and railways were
earlier ones. The dotcom boom and crypto currencies are still too fresh
to get a perspective on right now. Crypto is still very much in play.

One thing is certain - the insiders seldom lose any money and stand to
make a great deal by tricking gullible fools into parting with theirs.

--
Regards,
Martin Brown

 

[Phil Hobbs]

Martin Brown wrote:

On 01/06/2022 19:38, John Larkin wrote:
On Wed, 1 Jun 2022 13:27:18 -0400, Phil Hobbs
pcdhSpamMeSenseless@electrooptical.net> wrote:

jlarkin@highlandsniptechnology.com wrote:
On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/


Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/


As usual, too much too late.

My father had a standard line about that--he said he wanted to hire a
one-armed economist, because he was sick of being told \"on one hand,
this, on the other hand, that.\"

That is a problem with all theoreticians. Many possible explanations of
any graph but only one of them is right and sometimes none of them are.

There are a whole lot of folks who seem to have learned everything they
know from the Friday evening stock market reports.

\"Program trading,\" \"weakness in Asia,\" \"weak Treasury auction,\" \"short
squeeze in tech,\", you know the deal.

In solid state, it\'s

\"Surface states,\" \"deep-level traps,\" \"many-body effects,\" \"dopant
statistics,\" and similar.

Or anything Neil deGrasse Tyson says about anything.

Cheers

Phil Hobbs

--
Dr Philip C D Hobbs
Principal Consultant
ElectroOptical Innovations LLC / Hobbs ElectroOptics
Optics, Electro-optics, Photonics, Analog Electronics
Briarcliff Manor NY 10510

http://electrooptical.net
http://hobbs-eo.com

 

[amdx]

On 6/1/2022 3:27 PM, Martin Brown wrote:

On 01/06/2022 19:38, John Larkin wrote:
On Wed, 1 Jun 2022 13:27:18 -0400, Phil Hobbs
pcdhSpamMeSenseless@electrooptical.net> wrote:

jlarkin@highlandsniptechnology.com wrote:
On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/


Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/


As usual, too much too late.

My father had a standard line about that--he said he wanted to hire a
one-armed economist, because he was sick of being told \"on one hand,
this, on the other hand, that.\"

That is a problem with all theoreticians. Many possible explanations
of any graph but only one of them is right and sometimes none of them
are.

Macroeconomics is not much different from astrology or witchcraft.

That is unkind to them even though I do view them as without doubt the
most dismal science. In no other intellectual endeavour do researchers
prostitute themselves for Mammon except for \"Economics\" Nobel
laureates. Long Term Capital Management being the canonical example.

https://en.wikipedia.org/wiki/Long-Term_Capital_Management

Problem is that like with quantum mechanics all economics experiments
and bankers utterances can seriously affect the systems that they are
trying to measure, control and model. I once had a chance to play with
the UK economic modelling program and it does get the basics right.

Problem is the real world doesn\'t ever behave like the model. A few
select insiders get advanced warning from friends and so the system is
not fair in the sense that all players have equal access to information.

It is best summed up by what the CEO of Lloyds of London said about
the unlucky naive names made bankrupt by being lumbered with asbestos
syndicate losses \"If God had not intended them to be shorn Hr would
not have made them sheep\". Far enough back to have a historical
perspective.

https://www.theguardian.com/money/2000/nov/04/business.personalfinancenews1


What it can do nothing about is black swan events like the idiocy of
Brexit or external factors like the Russian invasion of Ukraine and
the resulting huge and rapid increase in energy prices.

Markets consist of mostly stupid greedy individuals doing what they
think will make them the most money and bonuses in the short term. It
is no surprise that they are unstable. Invention of new ways to con
people with paper based frauds that earn big for early investors
whilst robbing the latecomers are legend and have been ever since
ancient times.

Bank of England issues stern warnings about this sort of thing roughly
every 50 years or so. Tulip mania, South Sea bubble and railways were
earlier ones. The dotcom boom and crypto currencies are still too
fresh to get a perspective on right now. Crypto is still very much in
play.

One thing is certain - the insiders seldom lose any money and stand to
make a great deal by tricking gullible fools into parting with theirs.

Did anyone take this guy serious in 2008? He was very clear about his
position on the Fed.

https://www.youtube.com/watch?v=SWksEJQEYVU&t=1s
A  followup 10 years later.
https://www.youtube.com/watch?v=QGwgKqTKMFQ

Today\'s question; I\'m down 8 years of retirement income, do I sell now
and avoid  8 more years of income loss, or sell now and
miss  the gain of 8 years income? It sucks, but I went through it in
2000 and 2008, 2009 to 2020 was a lot of fun, now, not so much
                                                Mikek




--
This email has been checked for viruses by Avast antivirus software.
https://www.avast.com/antivirus

 

[server]

On Wed, 01 Jun 2022 16:26:26 -0400, Joe Gwinn <joegwinn@comcast.net>
wrote:

On Wed, 01 Jun 2022 11:36:37 -0700, John Larkin
jlarkin@highland_atwork_technology.com> wrote:

On Wed, 01 Jun 2022 14:23:08 -0400, Joe Gwinn <joegwinn@comcast.net
wrote:

On Wed, 01 Jun 2022 09:36:28 -0700, jlarkin@highlandsniptechnology.com
wrote:

On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

The issue here is who is saying it, not when they arrived at the
party. His influence on Wall Street is immense.

.<https://en.wikipedia.org/wiki/Jamie_Dimon

Joe Gwinn

Not as immense as artificially forced zero interest rates and massive
spending.

Yes, but that is not yet within his power.

But he would make a fine Secretary of the Treasury.


At zero interest, everybody dumps savings and buys stocks. And
government can borrow and spend without limit. At zero interest, you
don\'t have to pay back loans.

Yep. Inflation also causes people to covert savings into tangible
things of intrinsic value.

About half the US population has no savings, no net wealth. If they
notice inflation, they can buy more stuff (or vacations) on their
credit cards.

It\'s said that 2% of the population has more wealth than the bottom
50% combined. Heck, I have more wealth than the bottom 50%.

Fun, while the party lasts.

The midterm elections this coming November will be very interesting.

Joe Gwinn

--

Anybody can count to one.

- Robert Widlar

 

[rbowman]

On 06/01/2022 12:38 PM, John Larkin wrote:

On Wed, 1 Jun 2022 13:27:18 -0400, Phil Hobbs
pcdhSpamMeSenseless@electrooptical.net> wrote:

jlarkin@highlandsniptechnology.com wrote:
On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.



My father had a standard line about that--he said he wanted to hire a
one-armed economist, because he was sick of being told \"on one hand,
this, on the other hand, that.\"

Cheers

Phil Hobbs

Macroeconomics is not much different from astrology or witchcraft.

Voodoo economics?

 

[bitrex]

On 6/1/2022 10:23 PM, jlarkin@highlandsniptechnology.com wrote:

On Wed, 01 Jun 2022 16:26:26 -0400, Joe Gwinn <joegwinn@comcast.net
wrote:

On Wed, 01 Jun 2022 11:36:37 -0700, John Larkin
jlarkin@highland_atwork_technology.com> wrote:

On Wed, 01 Jun 2022 14:23:08 -0400, Joe Gwinn <joegwinn@comcast.net
wrote:

On Wed, 01 Jun 2022 09:36:28 -0700, jlarkin@highlandsniptechnology.com
wrote:

On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

The issue here is who is saying it, not when they arrived at the
party. His influence on Wall Street is immense.

.<https://en.wikipedia.org/wiki/Jamie_Dimon

Joe Gwinn

Not as immense as artificially forced zero interest rates and massive
spending.

Yes, but that is not yet within his power.

But he would make a fine Secretary of the Treasury.


At zero interest, everybody dumps savings and buys stocks. And
government can borrow and spend without limit. At zero interest, you
don\'t have to pay back loans.

Yep. Inflation also causes people to covert savings into tangible
things of intrinsic value.

About half the US population has no savings, no net wealth. If they
notice inflation, they can buy more stuff (or vacations) on their
credit cards.

It\'s said that 2% of the population has more wealth than the bottom
50% combined. Heck, I have more wealth than the bottom 50%.

If Mr. Larkin is wealthier than 150 million Americans combined in the
\"greatest country in the world\" I\'d sure hate to see the second-greatest.

 

[server]

On Wed, 1 Jun 2022 20:43:46 -0600, rbowman <bowman@montana.com> wrote:

On 06/01/2022 12:38 PM, John Larkin wrote:
On Wed, 1 Jun 2022 13:27:18 -0400, Phil Hobbs
pcdhSpamMeSenseless@electrooptical.net> wrote:

jlarkin@highlandsniptechnology.com wrote:
On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.



My father had a standard line about that--he said he wanted to hire a
one-armed economist, because he was sick of being told \"on one hand,
this, on the other hand, that.\"

Cheers

Phil Hobbs

Macroeconomics is not much different from astrology or witchcraft.


Voodoo economics?

Right. Economics 101 works. Basic conservation concepts work.
Nobel-level macroeconomics doesn\'t. Economics is yet another study
where expertise reduces competence.



--

Anybody can count to one.

- Robert Widlar

 

[server]

On Thu, 2 Jun 2022 01:24:29 -0400, bitrex <user@example.net> wrote:

On 6/1/2022 10:23 PM, jlarkin@highlandsniptechnology.com wrote:
On Wed, 01 Jun 2022 16:26:26 -0400, Joe Gwinn <joegwinn@comcast.net
wrote:

On Wed, 01 Jun 2022 11:36:37 -0700, John Larkin
jlarkin@highland_atwork_technology.com> wrote:

On Wed, 01 Jun 2022 14:23:08 -0400, Joe Gwinn <joegwinn@comcast.net
wrote:

On Wed, 01 Jun 2022 09:36:28 -0700, jlarkin@highlandsniptechnology.com
wrote:

On Wed, 01 Jun 2022 09:33:55 -0700, jlarkin@highlandsniptechnology.com
wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

Of course, they can always find something else to blame for their
idiotic rail-slamming policy recommendations.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

The issue here is who is saying it, not when they arrived at the
party. His influence on Wall Street is immense.

.<https://en.wikipedia.org/wiki/Jamie_Dimon

Joe Gwinn

Not as immense as artificially forced zero interest rates and massive
spending.

Yes, but that is not yet within his power.

But he would make a fine Secretary of the Treasury.


At zero interest, everybody dumps savings and buys stocks. And
government can borrow and spend without limit. At zero interest, you
don\'t have to pay back loans.

Yep. Inflation also causes people to covert savings into tangible
things of intrinsic value.

About half the US population has no savings, no net wealth. If they
notice inflation, they can buy more stuff (or vacations) on their
credit cards.

It\'s said that 2% of the population has more wealth than the bottom
50% combined. Heck, I have more wealth than the bottom 50%.

If Mr. Larkin is wealthier than 150 million Americans combined in the
\"greatest country in the world\" I\'d sure hate to see the second-greatest.

The people with zero or negative net worth aren\'t starving or stuffed
into labor camps. They mostly have apartments, cars, and too much
food. They get medical care, often free, and will get Social Security
and Medicaire when they get old. They just don\'t care to manage their
finances, in a country where that isn\'t lethal.

Move to Venezuela or Somalia or Haiti if you hate the USA, which you
certainly do. Cuba is nice too, a socialist workers\' paradise.



--

Anybody can count to one.

- Robert Widlar

 

[bitrex]

On 6/1/2022 4:27 PM, Martin Brown wrote:

That is a problem with all theoreticians. Many possible explanations of
any graph but only one of them is right and sometimes none of them are.

Macroeconomics is not much different from astrology or witchcraft.

That is unkind to them even though I do view them as without doubt the
most dismal science. In no other intellectual endeavour do researchers
prostitute themselves for Mammon except for \"Economics\" Nobel laureates.
Long Term Capital Management being the canonical example.

https://en.wikipedia.org/wiki/Long-Term_Capital_Management

Problem is that like with quantum mechanics all economics experiments
and bankers utterances can seriously affect the systems that they are
trying to measure, control and model. I once had a chance to play with
the UK economic modelling program and it does get the basics right.

Problem is the real world doesn\'t ever behave like the model. A few
select insiders get advanced warning from friends and so the system is
not fair in the sense that all players have equal access to information.

The one PhD macroeconomist I know publishes extremely math-heavy papers
about e.g. the effects of international border realignments on trade
deficits, historical analysis and optimization of textile manufacturing
raw materials import in India, etc.

I expect the average engineer here could understand maybe 10% of what\'s
in any particular paper.

Anyway, he\'s a university academic and makes a university academic\'s
salary which in the area of the US he lives in may not even be in the
six figures.

Like a PhD electrical engineer who works in academia he\'d probably be
thrilled if anyone leveraged his work to make more in their
business/industry and there\'s probably legitimate optimization potential
for certain industries buried in them, but it\'s rare this happens.

 

[Anthony William Sloman]

On Thursday, June 2, 2022 at 4:36:48 AM UTC+10, John Larkin wrote:

On Wed, 01 Jun 2022 14:23:08 -0400, Joe Gwinn <joeg...@comcast.net> wrote:
On Wed, 01 Jun 2022 09:36:28 -0700, jla...@highlandsniptechnology.com wrote:
On Wed, 01 Jun 2022 09:33:55 -0700, jla...@highlandsniptechnology.com wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

John Larkin knows very little about economics, so he has no idea how little he knows,

> >>>Of course, they can always find something else to blame for their idiotic rail-slamming policy recommendations.

Or recommendations that look \"rail slamming\" to John Larkin.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

The issue here is who is saying it, not when they arrived at the
party. His influence on Wall Street is immense.

.<https://en.wikipedia.org/wiki/Jamie_Dimon

Not as immense as artificially forced zero interest rates and massive
spending.

At zero interest, everybody dumps savings and buys stocks. And
government can borrow and spend without limit. At zero interest, you
don\'t have to pay back loans.

Fun, while the party lasts.

Except that you don\'t do it when people are in a party mood, and you wind it back rapidly when the economy starts looking if it going to return to normal.

The anti-Keynesians can\'t be bothered to understand what actually happens, and ignore the information that the Keynesians are relying on to monitor the effects of their interventions. It\'s extraordinarily stupid.

--
Bill Sloman, Sydney (but in Nijmegen in the Netherlands at the moment).

 

[bitrex]

On 6/2/2022 1:27 PM, Anthony William Sloman wrote:

On Thursday, June 2, 2022 at 4:36:48 AM UTC+10, John Larkin wrote:
On Wed, 01 Jun 2022 14:23:08 -0400, Joe Gwinn <joeg...@comcast.net> wrote:
On Wed, 01 Jun 2022 09:36:28 -0700, jla...@highlandsniptechnology.com wrote:
On Wed, 01 Jun 2022 09:33:55 -0700, jla...@highlandsniptechnology.com wrote:

https://www.usatoday.com/story/news/politics/2022/05/31/biden-interfere-federal-reserve-inflation/7454555001/

Macroeconomists are usually wrong. The ones with political influence
are always wrong. \"Dismal science\" indeed.

John Larkin knows very little about economics, so he has no idea how little he knows,

Of course, they can always find something else to blame for their idiotic rail-slamming policy recommendations.

Or recommendations that look \"rail slamming\" to John Larkin.

https://www.breitbart.com/economy/2022/06/01/jamie-dimon-warns-of-economic-hurricane/

As usual, too much too late.

The issue here is who is saying it, not when they arrived at the
party. His influence on Wall Street is immense.

.<https://en.wikipedia.org/wiki/Jamie_Dimon

Not as immense as artificially forced zero interest rates and massive
spending.

At zero interest, everybody dumps savings and buys stocks. And
government can borrow and spend without limit. At zero interest, you
don\'t have to pay back loans.

Fun, while the party lasts.

Except that you don\'t do it when people are in a party mood, and you wind it back rapidly when the economy starts looking if it going to return to normal.

The anti-Keynesians can\'t be bothered to understand what actually happens, and ignore the information that the Keynesians are relying on to monitor the effects of their interventions. It\'s extraordinarily stupid.

America spends more on defense than anyone else but meanwhile the guy
tells me there\'s a \"War on the West\" and we\'re fucking losing it? ???
Wow. Money well-spent.

 

[rbowman]

On 06/02/2022 02:03 PM, bitrex wrote:

He seems to be a homosexual fascist too which is a peculiar type but
there\'s historical precedent for that, homosexuality & fascism have had
an uncomfortable relationship for a long time, Ernst Rohm was a
well-known example:

https://en.wikipedia.org/wiki/Ernst_R%C3%B6hm

The Third Reich knew when to cut their losses.