Commentary by Roger Erickson
The Flaw. Rating "experts" at Fitch "deliberately ignore the obvious fixed vs floating fx distinction."
Ok, let's name that flaw as "Fixed vs Floating Logic" so we can tell people it's there, and everyone can fix it in their own way.
That's actually a quite apt name, given it alludes to static value vs dynamic value.
Given our electorates inexperience with understanding their own, diverse, semantics, however, maybe Static vs Dynamic Logic would be more useful in GENERAL practice. (After all, MOST of the population does NOT work in banking. Nor do they want to.)
2 comments:
http://www.garycarmell.com/no-need-to-ever-fear-default-only-inflation/
yeah but Roger, their whole sovereign ratings division would get wiped out if they were led to believe Warren's pov....
rsp,
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