"There’s nothing wrong with making incorrect predictions. It happens to all of us. There is something wrong with obstinacy in the face of overwhelming contradictory evidence."
The author was a student in 2011 and in college during the GFC ..... how about we focus on economists that are adults - or at the very least we’re employed as economists in the years leading up to the GFC 🤔
This is just continued conflation between prices and inflation. As long as they keep everyone believing price changes are inflation, measurable in a further conflated CPA, they have cover to keep doing real inflation in the money supply via massive deficits. Even the Federal Reserve is sounding the alarm on real inflation - but using the term "Fiscal Dominance", lest the inflation terminology become unmoored from prices. At least the recent St. Louis Fed paper calls inflation what it is - a silent tax. They also say directly, "many people are unfamiliar with the concept of the inflation tax".
Maybe that's because the pundits keep talking about prices and not real inflation. Then you can blame the speculators and businesses instead of the government, who continues to tax us all.
Blind... and blinder... :)
The author was a student in 2011 and in college during the GFC ..... how about we focus on economists that are adults - or at the very least we’re employed as economists in the years leading up to the GFC 🤔
Piloting a large boat in the ocean isn’t much of a challenge- it’s when u get close to icebergs - we can tell how skilled u are!!!
This is just continued conflation between prices and inflation. As long as they keep everyone believing price changes are inflation, measurable in a further conflated CPA, they have cover to keep doing real inflation in the money supply via massive deficits. Even the Federal Reserve is sounding the alarm on real inflation - but using the term "Fiscal Dominance", lest the inflation terminology become unmoored from prices. At least the recent St. Louis Fed paper calls inflation what it is - a silent tax. They also say directly, "many people are unfamiliar with the concept of the inflation tax".
Maybe that's because the pundits keep talking about prices and not real inflation. Then you can blame the speculators and businesses instead of the government, who continues to tax us all.