Video report below from the EU's Wal Thornhill that examines some imaginary thinking extant in the mainstream of the academe of physics with their emerging concept of "quantum entanglement".
Attention is paid to the actual language (metaphor alert: 'entanglement') used by the mainstream quantum physicists.
This is an interesting statement Thornhill makes at one point:
"Its only necessary to highlight the meaningless language to show the ideas expressed are imaginary..."
The general insight into and recognition of the workings of our language exhibited by Thornhill here should be of note to MMTers.
Looks like more dubious magical thinking is being exposed in another mainstream department of the academe.
"Its only necessary to highlight the meaningless language to show the ideas expressed are imaginary..."
ReplyDelete"Imagination is more important than knowledge."
Albert Einstein
Funny I think just the opposite Ed!
ReplyDeletersp,
Ed,
ReplyDeleteWe're not "out of money!"... and I'm not imagining it... rather, I know it... I'm not a moron (on this issue anyway ;)
rsp,
This guy's a bit of a quack. He can't prove there's only 3 physical dimensions. And his assertion that physics can't deal with indeterminacy isn't true either. There's no law saying things must be determined.
ReplyDeleteWhat was the point in posting this video?
"Ed, We're not "out of money!"... and I'm not imagining it"
ReplyDeleteYes, I know we're not out of money. I'm not sure if it makes any difference though.
Joe right the guy with the terms is the 'quack' and the guy with the "worm hole" is a scientist...
ReplyDeleteJoe,
The guy El Arian from PIMCO who just got done losing $$$ for his investors when the vanilla SPs were up like 20% thinks "the Fed had the economy on a sugar high"... do you believe this too? ie is the economy on a sugar high?
Do you see my point now? rsp,
"the Fed had the economy on a sugar high"
ReplyDeleteTo be more accurate, the Fed has had the financial sector on a sugar high, not because QE actually does anything, but because enough people perceive that QE does something. It's a sugar pill, which is why it is nothing more than a placebo. This is where perception becomes reality.
Each time the Fed signaled it was going to do QE1, QE2 & QE3, market participants pulled the RISK ON trigger, i.e. buy risk assets like equities, commodities & credit related financial instruments and simultaneously hit the sell button on the US$ and long term Treasury securities because traders equated QE with Fed money printing. As the respective QE programs came to an end the RISK ON trade would be reversed to RISK OFF and a stampede into the $ and Treasuries and out of equities and commodities.
QE3 and TAPERING may be the exception to this general rule, but it may still be too early to tell. I'm just not sure. I think the Fed has succeeded in blowing up a big asset bubble in equities as a by-product of QE, but this sugar high in the financial sector has not translated over into a corresponding rebound the the general economy which for the most part remains disappointingly sluggish.
So, is there a bubble in the stock market that is waiting to burst? Or does the recent better than expected economic data signal that the recovery is accelerating and the stock market is simply reflecting those facts on the ground? I think the former, but I'm not sure.
Is Bernanke like a rooster thinking that the sun rises because he crows? Is the economy bouncing back because of the Fed interventionism and government stimulus or despite it? I think probably despite it.
Would the economy have bounced back sooner and more aggressively without all of the extraordinary measures taken by the Fed and US Treasury? I think so.
How will the looming debt ceiling debate impact the all new highs in the stock market?
I'd rather be lucky than smart.