tag:blogger.com,1999:blog-1592992209402300549.post4018265650317422086..comments2024-03-28T08:06:43.198-04:00Comments on The Silicon Graybeard: The Fed is Data Driven SiGraybeardhttp://www.blogger.com/profile/00280583031339062059noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-1592992209402300549.post-36244763228293595802018-03-06T14:50:34.961-05:002018-03-06T14:50:34.961-05:00The purpose of currency inflation is to transfer a...The purpose of currency inflation is to transfer a few percent of the wealth produced in the country each year from the hands of the middle class savers into the hands of the central bankers. Central bankers are not brain dead losers who can't achieve a policy goal, central bankers are competent thieves.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-76616201617011614752018-03-05T21:07:26.687-05:002018-03-05T21:07:26.687-05:00The stagnation of wages chart? I've been writ...The stagnation of wages chart? I've been writing on that for years, and never seen a chart just like that. The phenomenon goes back way before 1988. It goes back to the 1960s - see <a href="javascript:void(0);" rel="nofollow"> here</a>. <br /><br />There's more, but like I say, I've never seen that particular format before. <br /><br />SiGraybeardhttps://www.blogger.com/profile/00280583031339062059noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-89396797861065800022018-03-05T19:15:19.681-05:002018-03-05T19:15:19.681-05:00I suspect that chart would look even more interest...I suspect that chart would look even more interesting if it went back to 1988 (just before the USSR collapse)<br />QAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-52724924625215749432018-03-05T18:36:43.871-05:002018-03-05T18:36:43.871-05:00The original purpose, as I recall, of the Fed was ...The original purpose, as I recall, of the Fed was to stabilize the value of the dollar. Any chart that tracks the value of the dollar would inform all that the Fed is a failure. It seems they have changed their primary purpose to saving the brain dead bankers from loosing their shirts over their brain dead schemes.indyjonesoutherenoreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-24929485585140904042018-03-05T13:36:05.754-05:002018-03-05T13:36:05.754-05:00In the 8 years of this blog, there's probably ...In the 8 years of this blog, there's probably no single thing I've hammered on more than the stupidity of the Fed. I beat Ben Bernanke like a rented mule, and probably didn't beat on Janet Yellen as much simply because I got tired of myself sounding like a broken record. <br /><br />But, yeah, this probably sounds like hypocrisy for me to say, but Mauldin's weekly letters can get to be TL:DR. I know he's trying to sell his service, but I've got a Financial guy. I read to try to keep up with, and keep a check on the guys I've hired. <br /><br />SiGraybeardhttps://www.blogger.com/profile/00280583031339062059noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-2563331115799056152018-03-05T13:23:33.007-05:002018-03-05T13:23:33.007-05:00I've also been reading Maulding's free stu...I've also been reading Maulding's free stuff for a long time but he sure is one prolific writer. Lots of common sense but also a lot of financial "wonk" thinking which doesn't do the regular guy on the street a lot of good. As for the Fed, hard to understand how 12 District Governors are missed/ignored but then ... politics in everything. I agree that it is evil and attempt to "manage" such a complex economy is really tantamount to rigging a casino in favor of the house. There is no fair or good outcome except for the few on the inside who know what the plan is all about. I am one of those who believes that the Fed should be shit canned. Let the economy do what it does and let the pieces fall where they may. This is just another example of the excuse "Too Big To Fail."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-26311402371568068732018-03-05T13:06:31.291-05:002018-03-05T13:06:31.291-05:00If the politicians' actions were in the medica...If the politicians' actions were in the medical field, they would look like Doctor Josef Mengele. I can't come up with a defensible reason why I should have a lower standard of moral behavior for a JD than an MD. I know why humans do it, we have ape instincts to follow the flamboyant, dominant monkey. That's the reason, but it's not a good reason. Anyone who supports the imposition of government policy contrary to the Nuremberg Code should be hunted down like a Nazi.<br /><br />Complete text of code, better than the wikipedia summary which reads weaker. Compare the Nuremberg Code to the Bill of Rights, which was promoted by a bunch of serial slave-rapers to make the whites into debt slaves.<br /><br /> http://scholarship.law.edu/cgi/viewcontent.cgi?article=1553&context=jchlp<br /><br />Translate medical actions into economic ones and it sounds like the news. What did a tariff on steel do when Bush imposed one?<br /><br /> https://en.wikipedia.org/wiki/Josef_MengeleAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-63915693911228082532018-03-05T01:22:12.804-05:002018-03-05T01:22:12.804-05:00https://en.wikipedia.org/wiki/Socialist_calculatio...https://en.wikipedia.org/wiki/Socialist_calculation_debate<br />https://en.wikipedia.org/wiki/Economic_calculation_problem<br /><br />We've known since 1930 that central planning can't work, not for currency or anything else. There is no possible way the central bankers and central politicians can't be aware of this. It is not possible to get an advanced degree and not have the college experience of libertarians yelling at you, with footnotes.<br /><br />Therefore, all these modern central planners are evil. Not stupid, not misinformed, but actively and carefully evil in the first degree.<br /><br />"Portugal, Spain, the Netherlands, France, Britain": the actual data says that reserve currency status lasts for about 94 years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-7444403725887685832018-03-04T23:49:35.078-05:002018-03-04T23:49:35.078-05:00In personal economic matters, and otherwise genera...In personal economic matters, and otherwise generally, the human decision process is frequently more like a diffusion process than a logic circuit snapping states. This does lead to a certain time delay, which is also an important feature in many kinds of oscillators...<br />Ritchiehttps://www.blogger.com/profile/08075903551422300106noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-72740430871707930602018-03-04T22:56:37.159-05:002018-03-04T22:56:37.159-05:00Ever since I discontinued my paid subscription to ...Ever since I discontinued my paid subscription to Bill Bonner's newsletter, they won't even send me the free one anymore, so I read Mauldin more than anyone else. This column is a bit old but it stuck with me better than most. <br /><br />The Fed sometimes to be in that class of people or institutions that are so stupid they have to be walled-off academics. Sometimes I think they can't possibly believe some of the things they say and it's just for public consumption. I think that they can't be as out of touch as they seem to be. But they just keep doing the same things in the same ways. <br /><br />SiGraybeardhttps://www.blogger.com/profile/00280583031339062059noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-50639600471115117072018-03-04T21:57:57.005-05:002018-03-04T21:57:57.005-05:00I've read Mauldin for quite a long time and I ...I've read Mauldin for quite a long time and I think he has a better grip on economics than the Fed or most economists. I appreciated his observation that inflationary and employment figures are more regional than national but the fed operates on a nationwide assumption. That was brought out by the oil bust in Texas some years ago and how the Fed overlooked that regional problem. The Fed represents the DC/NY region and assumes it works the same everywhere. Another good reason to end their existence.indyjonesoutherenoreply@blogger.com