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From Cooke To Hoover To Bernanke, Money Elasticity Demands Monetary Policy Set Its Sight On Bubble #5 (pdf)
by Atlantic Capital Management
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are the events in the middle east "the black swan" event?
"Part 1 demonstrated flawed monetary theories wrapped in the pretense of science. The combination of the two means that the Fed will allow malinvestment to grow and fester."
Truth = Priceless
That, and the conclusion that we are headed for stagflation or hyperinflation, are spot on.
You cannot debauch the rule of law along with your currency and expect good things.
A five year old could tell you this; but many adults shield themselves from reality with complex equations and delusional rationalizations.
doomsday trades here we come
...US aint getting out of this either. Major short position on emerging markets, dip buying on a nice correcton on the S&P and Dow.
We are going down...
Good read, these guys get it...IMHO
Bravo. A most execellent piece. The only bit that it dances around is that the "growth" that the counterfeiters derive from their activities is by fooling most of the people most of the time.
The Fed has this funny idea that money creates wealth, when it's actually something else: the creation of useful goods and services. Our current monetary system has no resilience and no future. The Fed foments asset bubbles and busts, leading to a horrible waste of time, talent, capital, and world's limited natural resources. http://therookiecynic.wordpress.com/
Quite impressed by this one. I have only read the first two pages, but I am saving it for later when I have time.
Dollar at 77...might get a little bounce here now that everyone who has a choice about the number of dollars they hold has made their decision. Longer term of course bernanke wants a little real inflation. We are going to close that gap between food and real estate by pushing up the cost of food. You know the "rebalancing" thing that central bankers and macro economists talk about. We got to get back to all the old ratios between real estate and everything else. Much easier to inflate everything else than allow serious real estate deflation to "rebalance." We need goldilocks inflation..not too much...not too little....just right....that is what benny boy is shooting for. It is fun as hell to watch. The plot thickens and no one knows the ending yet. /p>
The current system is FUBAR...but it is what has evolved from the installation of the Fed as the overseer of monetary policy.
Not that I believe that the CONgress was a better overseer of monetary policy.
Since no humans can be trusted to oversee monetary policy, what is the alternative?
this paper is too long and not very readable. No conclusion or abstract.. Anyone offer me some main points?
I'll try: FED hubris is causing capital misallocation into new asset bubbles, which will in tears sooner than last time. The 100-year debt-money paradigm may be nearing the end, as the productive economy is hobbled by increasing costs of debt service. Hyperinflation, stagflation, or deflation will be the outcome but it's too soon to tell which.
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