Take That, Congress

[KrazyHorse]

Yes, calling everyone an ignoramus if they don't define "monetary loosening" according to your personal preference is really super insightful.

No, you ****ing idiot, it is not my personal preference. It is the preference of anybody who doesn't want to end up looking like an imbecile.

Old monetarism is dead. Neo-wicksellianism is dead. Neither the quantity of money nor the level of interest rates are useful indicators of the stance of monetary policy. Attempting to use them ends up with people like you parroting krugman and claiming that the fed just loosened in the face of all evidence.

[giblets]

I never said anything about the metric by which monetary policy should be judged. I just said something about what monetary loosening actually is, the fed buying stuff, and then you continued your hissy fit.

[MRT144]

QE2 succeeded. It increased inflation expectations as well as expectations of NGDP

"Operation Twist" failed. It reduced inflation expectations as well as expectations of NGDP.

A number of republicans appear t be evil: they want the US economy to flounder so that they can retake the presidency in 2012. The vast majority of democrats appear to be stupid: they think that monetary policy is impotent in the current environment (due to either a claim about liquidity traps or to the claim that monetary policy can only influence nominal variables) and/or they think the fed is actually loosening monetary policy when it is in reality tightening it.

So far the only important democrat to have figured out what's going on is barney frank.

That is terrifying.

[Tupac Shakur]

So far the only important democrat to have figured out what's going on is barney frank.

God help us.

[Asher]

But it violates Asher's common sense! You guys are just autistic mathie folks, that's why you can't predict things like stock market crashes and bubbles the way Asher can.

Just how stupid are you?

I've repeatedly claimed in this thread I've no ability to predict crashes or bubbles or the economy as a whole. Not only this, but I believe it's true for the world as a whole.

What he's writing doesn't violate my common sense. I'm not even reading what he's writing. You know why? Because it doesn't matter. I might as well read horoscopes or Tarot cards.

If people could predict the market and knew exactly what to do all of the time we'd never be in these messes. The reality is the real world of economics is a complex mess of irrational actors, politics, and mass psychology.

Do you understand this yet or do I need to find simpler words?

[Kuciwalker]

You just made the case for the efficient markets hypothesis, Asher.

[Asher]

I find myself still not caring.

[KrazyHorse]

Asher, if you could read you would have noted that nothing I've posted provides an alpha (excess returns) generating opportunity. THAT IS MY WHOLE POINT, YOU IGNORANT BUMBLER. The market already knows everything I've said, because I'm getting my information from the market.

[KrazyHorse]

The market figured out pretty ****ing quickly that the fed had just tightened, and drove down expected inflation, commodities prices and equity prices, and drove up the dollar.

[Asher]

Asher, if you could read you would have noted that nothing I've posted provides an alpha (excess returns) generating opportunity. THAT IS MY WHOLE POINT, YOU IGNORANT BUMBLER. The market already knows everything I've said, because I'm getting my information from the market.

So what? You're posting historical data?

As I said, I've not been reading it. The market knows what happened, not what will happen. If you are posting data from the market in the past, what bearing does that have on the future?