tag:blogger.com,1999:blog-2761684730989137546.post6901821365381939711..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Bill McBride — Key Measures Show Inflation increased YoY in Junemike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger34125tag:blogger.com,1999:blog-2761684730989137546.post-15250621784067885512018-07-13T11:00:17.319-04:002018-07-13T11:00:17.319-04:00There hasn’t been any inflation, since there hasn’...<i> There hasn’t been any inflation, since there hasn’t been any rise in wages.</i> Michael Hudson<br /><br />Labor cartels are a very poor counter to the government privileged banking cartel for a couple of reasons:<br />1) While they still work, the non-union public resents them for such reasons as featherbedding, ridiculous work rules, etc.<br />2) The ability of employers to automate jobs away with what is, in essence, the public's credit dooms them anyway.<br /><br />Now ethical fiat and credit creation won't solve all problems, but unethical fiat and credit creation undoubtedly caused a great many of them.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-51779626204149433862018-07-13T09:43:03.147-04:002018-07-13T09:43:03.147-04:00As to Egmont, he kills his own argument in the sam...<i> As to Egmont, he kills his own argument in the same way that Franko does: self-referencing. I am correct because I say so. </i> <br /><br />In Egmont's defense, he cites French economist Maurice Allais as the source of his argument about profit. Allais was a physicist, so he likely got the math right.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-841038082429513642018-07-13T09:17:05.453-04:002018-07-13T09:17:05.453-04:00Tom serving it hot!
As to Egmont, he kills his o...Tom serving it hot! <br /><br />As to Egmont, he kills his own argument in the same way that Franko does: self-referencing. <i>I am correct because I say so.</i> <br /><br />Egmont even provides links to himself. I wish Franko would.Noah Wayhttps://www.blogger.com/profile/12012500819097539976noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-1803973557002431852018-07-13T08:39:18.160-04:002018-07-13T08:39:18.160-04:00BTW, on the subject of trolling.
A lot of people...BTW, on the subject of trolling. <br /><br />A lot of people reading the comments may think that Egmont is trolling in that he keeps repeating the same criticism. But he is actually not trolling but reiterating a question that no economist has responded to. I have not attempted, since I am not an economist. Moreover, Egmont admits that his position is not original with him but was stated by Maurice Allais. Allais was an actual scientist and self-taught in economics, even though in won his Nobel in economics. Allais is not well-known in the English-speaking world since he wrote mostly in French.<br /><br />Same with Bob Roddis. He may look to some like a troll since he continually asks the same questions.The only one that has responded in any detail is "Lord Keynes."Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-66949464476206883342018-07-13T08:17:42.128-04:002018-07-13T08:17:42.128-04:00https://www.barrons.com/articles/SB120917419049046...<i>https://www.barrons.com/articles/SB120917419049046805</i> <br /><br />The quality of Greenspan's PHD thesis is irrelevant to the logical question I have asked you several time and you have addressed by reasserting your position. That is trolling.<br /><br />Answer the question or STFU.<br /><br />2. <i> Can there be an “effect” without a “cause”???? Nooooo..</i> <br /><br />Simple causation that is expressible as a deterministic function, in which the independent variable and a dependent variable are related by a rule where single inputs determine corresponding single outputs, is not possible in cases of causation where there are many factors involved, some of which are proximate causes and others are remote causes, and some are attendant circumstances ("catalysts"). I<br /><br />In addition, when the context is not fully known, the deterministic functions are ruled out and stochastic functions are brought in.<br /><br />This is all part of science.<br /><br />But the Fed is tasked with monetary policy and given a mandate to manage price level. Lacking a complete scientific theory of inflation, that means they have to use "art." This is wild known from reading the Fed minutes where there is wide disagreement, which would not be the case if it were possible to write deterministic functions.<br /><br />So far no one has been able to do it. Can you?Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-90847774215863944742018-07-13T08:13:14.467-04:002018-07-13T08:13:14.467-04:00https://www.edglossary.org/rigor/
https://www.edglossary.org/rigor/<br /><br />Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-90297658170962949092018-07-13T07:39:04.037-04:002018-07-13T07:39:04.037-04:00Can there be an “effect” without a “cause”???? N...Can there be an “effect” without a “cause”???? Nooooo...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-51168489861038269272018-07-13T06:14:39.727-04:002018-07-13T06:14:39.727-04:00If you don’t even know what something is, why keep...If you don’t even know what something is, why keep talking about it like it’s a real thing?Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-62921512015451330012018-07-13T06:12:50.981-04:002018-07-13T06:12:50.981-04:00https://www.ft.com/content/de31f704-cf2c-11e7-9dbb...https://www.ft.com/content/de31f704-cf2c-11e7-9dbb-291a884dd8c6<br /><br />“Yellen describes low US inflation in 2017 as a ‘mystery’. Outgoing Fed chair reaffirms uncertainty over whether bank clearly understands causes”Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-56644612670927962722018-07-13T06:03:06.224-04:002018-07-13T06:03:06.224-04:00https://www.barrons.com/articles/SB120917419049046...https://www.barrons.com/articles/SB120917419049046805<br /><br />“Though the work is, in fact, a collection of previously published articles, he says that it is hardly unusual, as some critics assert, for a collection of articles to be submitted as a thesis...... Greenspan claims to have authored it as CEA chairman. The general policy principles discussed in the chapter include the following: "Stimulus should be provided by tax reduction rather than by increases in government spending; tax reduction should be permanent rather than in the form of a temporary rebate; ”<br /><br />Blah, blah, blah....<br /><br />No rigor....Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-65010056501581540962018-07-13T05:51:49.967-04:002018-07-13T05:51:49.967-04:00Ok, So then why does the academe provide this dist...Ok, So then why does the academe provide this distinction?Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-42609473609982284962018-07-13T05:47:02.527-04:002018-07-13T05:47:02.527-04:00https://www.bestvalueschools.com/faq/what-is-the-d...https://www.bestvalueschools.com/faq/what-is-the-difference-between-a-b-a-and-a-b-s/<br /><br />“Both the B.A., or Bachelor of the Arts, and the B.S., or Bachelor of Science, are four-year undergraduate degrees. The primary difference between the two types of degrees is the focus of the coursework students are required to complete in order to earn them.”<br /><br />Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-44246421226414641232018-07-13T05:44:16.050-04:002018-07-13T05:44:16.050-04:00Find me a trained scientist saying “we’re out of k...Find me a trained scientist saying “we’re out of kilograms!”....Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-1112585367006655902018-07-12T22:42:31.305-04:002018-07-12T22:42:31.305-04:00The degree requirements are DIFFERENT for a BA vs....<i>The degree requirements are DIFFERENT for a BA vs. a BS...</i><br /><br />Stop trolling.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-44901113929473160632018-07-12T22:41:35.056-04:002018-07-12T22:41:35.056-04:00Matt, you need to find someone to defend your logi...Matt, you need to find someone to defend your logic about Trump being a "scientist" because he has a "BS," while you claim that PHD economists are artists with arts degrees. Or that Greenspan is an artist because he's a clarinet player even though he has a PHD in economics. It's bonkers.<br /><br />I was kind of wondering where some the stuff you have been saying is coming from. Now I know.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-70598513133322610652018-07-12T22:35:03.896-04:002018-07-12T22:35:03.896-04:00Tom,
I have you in checkmate...
To get out of i...Tom, <br /><br />I have you in checkmate...<br /><br />To get out of it, you have to go find me a trained scientist or an engineer going all around saying “we’re out of kilograms!”<br /><br />Just post the link here...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-81980975721536466532018-07-12T22:23:29.973-04:002018-07-12T22:23:29.973-04:00The degree requirements are DIFFERENT for a BA vs....The degree requirements are DIFFERENT for a BA vs. a BS...<br /><br />Don’t they teach the concept of inequality in Philosophy????Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-83151907304551489842018-07-12T22:13:43.978-04:002018-07-12T22:13:43.978-04:00Matt, you claim that people with PHDs in economics...Matt, you claim that people with PHDs in economics are "artists" with arts degrees, but Trump who only has a BS in economics is a scientist because he has a "bachelor's degree in science"? <br /><br />Don't they teach logic and critical thinking in engineering school?Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-82958283396068782762018-07-12T22:09:46.931-04:002018-07-12T22:09:46.931-04:00So you’re saying a BS is a BA?So you’re saying a BS is a BA?Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-36067167684999299262018-07-12T22:06:35.248-04:002018-07-12T22:06:35.248-04:00Yo db it says bachelor of science...Yo db it says bachelor of science...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-91587258866136495312018-07-12T21:51:16.466-04:002018-07-12T21:51:16.466-04:00Which brings up the question of how Franko's f...Which brings up the question of how Franko's favorite Cheeto-in-Chief could be so smart if all he's got is an arts degree. Noah Wayhttps://www.blogger.com/profile/12012500819097539976noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-62073115022386280212018-07-12T21:39:45.902-04:002018-07-12T21:39:45.902-04:00"Trump holds a bachelor of science degree in ...<i>"Trump holds a bachelor of science degree in economics from Wharton"</i><br /><br />He's an arts major!Noah Wayhttps://www.blogger.com/profile/12012500819097539976noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-61515090663080494482018-07-12T20:15:00.367-04:002018-07-12T20:15:00.367-04:00Well Trump it appears still thinks “we’re out of m...Well Trump it appears still thinks “we’re out of money” too so...<br /><br />Point still remains that Economics is typically an Art Degree and it’s inappropriate inadequate training...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-515002244729994192018-07-12T19:56:08.576-04:002018-07-12T19:56:08.576-04:00And if you assumed his degree was an MBA, you’d be...<i>And if you assumed his degree was an MBA, you’d be wrong. Trump holds a bachelor of science degree in economics from Wharton, earned after transferring in as a junior from Fordham University. Several early Trump profiles, including a 1973 New York Times piece, stated that he graduated first in his class at Wharton, but that has since been disputed. A 1968 commencement program does not list his name among students who graduated with honors.</i> <br /><br /><a href="https://www.apnews.com/76a383d1b6e443a99831bf85a6d6cf3e" rel="nofollow">Associated Press</a>Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-69258762072999620752018-07-12T19:37:02.796-04:002018-07-12T19:37:02.796-04:00Let's see ... a decade of ginormous bailouts, ...Let's see ... a decade of ginormous bailouts, massive deficit spending, huge tax cuts, what could possibly be causing inflation???? <br /><br />It's a big mystery, I just can't figure it out ...Noah Wayhttps://www.blogger.com/profile/12012500819097539976noreply@blogger.com