October 6, 2015
Ex-Fed's Fisher: Bernanke wrong on inflation
"This is a four-act Shakespearean play," Fisher continued. "We don't know if it's a comedy or a tragedy."
If it is a comedy, then it will surely be a tragedy. If it's a tragedy, then the joke's on us.
This guy read too much Milton Freidman. He has no clue what causes inflation.
ReplyDeleteCNBC is a weapon of mass deception!
mab,
ReplyDeleteThe one guy left at the nearly automated factory will demand higher wages as people like me are forced to save more money than ever before thanks to lower long-term real yields! You know, so the nest eggs don't dry up before death.
I do notice that there is some serious wage inflation just now showing up in salon jobs though. I should do a post on that. Apparently our many fine colleges and universities aren't cranking out enough hair stylists to meet demand. Go figure.
Perhaps I was a little hard on Fisher. He probably saw some black helicopters and starting worrying that the Fed was going to do a money drop!
ReplyDeleteManna from heaven! Mammon from heaven! Reserves from heaven!
mab,
ReplyDeleteI hoarded way too many mammons already. What am I going to do with an extra one? ;)