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Re: Good summary IMVHO

By: Cactus Flower in ALEA | Recommend this post (0)
Fri, 26 Aug 11 9:22 PM | 41 view(s)
Boardmark this board | The Trust Matrix 		Msg. 05681 of 54959
(This msg. is a reply to 05675 by xcslewis)
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Hi csl,

This game is over, by the way. You can't simply open-end the game forever. Well, it didn't happen like we said, but the game goes on.

QE1 happened. No hyperinflation. Not what the right predicted.

QE2 happened. No hyperinflation. Not what the right predicted.

That's it. Argument failed. The direct connection the right argued for between quantitative easing and catastrophic monetary failure is broken. Hyperinflation didn't happen as a direct result of monetary stimulus. Inflation didn't happen. The theory is a bust. In a liquidity crisis, inflation doesn't occur along the lines the right wing analysis said it would. The neo-Keynesian analysis was correct.

I know folks hate to admit they were wrong. But the horse bolted already.

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The above is a reply to the following message:
Re: Good summary IMVHO
By: xcslewis in ALEA
Fri, 26 Aug 11 5:45 PM 		Msg. 05675 of 54959

The game ain't over until the last out.

"The stimulus was not sufficiently large, as folks like Krugman, Roubini, Stiglitz and Cactus suggested when it was adopted."

Things would just be wronger and worser. I'm pretty sure QE3 will be adopted at some point if not today. The Keynesian hole just keeps getting deeper and deeper.

I think buying more silver makes sense since I think it is undervalued to Gold.

(sense since-I'm kinda' proud o' th't un. If I had more time I might have been able to work cents into it.)

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