Don't we have enough "modeling software" that spews out junk economics?
Ray Dalio runs the world's largest hedge fund, Bridgewater Associates. He's having software created to model his brain.
Dalio believed or still believes that
The U.S.A. is "out of money."
The central bank monetary policy such as QE and ZIRP will cause hyperinflation and collapse the dollar.
That central banks are or, soon will be, out of "ammo."
That we borrow from the Chinese.
And on and on.
Dalio is more proof that just because someone has a lot of money or, even lots of money under management, doesn't mean they are smart or know what they are talking about.
Albert Einstein was arguably one of the smartest humans to ever live, and he earned about $65k per year in today's dollars.
Anyway, no problem for me. Instead of taking Dalio's money, I will take his computers' money.
9 comments:
"The U.S.A. is "out of money."
The central bank monetary policy such as QE and ZIRP will cause hyperinflation and collapse the dollar.
That central banks are or, soon will be, out of "ammo."
That we borrow from the Chinese."
Yeah let's model THAT brain!!! LOL!
And yet he has the best video explaining why and how an economy works under DSGE/ NAIRU/ only monetary policy. It is the first half of "How The Economic Machine works by Ray Dahlio" on youtube.
https://www.youtube.com/watch?v=PHe0bXAIuk0
Sure his recomendation of a cure is totaly wrong which is what is being done now.
This video is not about how an economy works under full employment policy, only under DSGE policies. It is the best video to explain economy to anybody not fluent in MMT, with caveat that the solution he presents is totaly bogus.
Duquesne is the firm that had piqued my interest more than Dalios. Investment banking is always dominated by the slick salesmen types that could put together deals. These type of guys appear to love the public adulation but listening to them talk, have no clue, no understanding, total nonsensical BS, if they didn't have their sales mojo and back scratching they'd clearly be dead in the water. For investment performance, I rather people who keep things fairly simple but focused on what works and why it's working.
Duquesne, Stanley Druckenmiller. Now THERE'S a tool!
I'm glad I don't listen to this Dalio clown. It's the second time I've ever heard of him.
Modelling the mind of a moron may be useful ;)
Yeah just model it and multiply all output by -1
Another version of GIGO
If you want to know what god thinks of money just loook at who he gave it to.
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