My Own Market Narrative
"It will take a rally of monumental proportions to save the penis of John McAfee" - Zerohedge, 2017
Monday, August 7, 2017
The Phillips curve is flat
more job growth, but still no inflation
. And he includes this helpful pic:
I.e., the Phillips curve is now horizontal.
What I don't get it why this is a fucking surprise. Governments can easily flatten the Phillips curve through policy, can't they? Or don't macro models incorporate policy in them?
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