Friday, October 3, 2014

Some news that's funny in hindsight

All out of date, all funny in hindsight:

Bloomberg - hyperinflation wankers, four years on, reject reality and insist they got it right. Krugman has the right answer to these clowns, and he's had the right answer all week, and here it is:
The truth is that the quiescence of interest and inflation rates was predicted by everyone who understood the obvious — that we had entered a liquidity trap — and thought through the implications. I explained it more than five years ago. When central banks have pushed policy rates as low as they can, and the economy is still depressed, what that tells you is that the economy is awash in excess desired savings that have nowhere to go.
One of the people in this debate is a real economist who has a fucking clue what he's talking about, and his name rhymes with Sprugman.

Calculated Risk - September employment report and later that same day. I guess one good employment report completely outweighs fears over Ebola and the Ukraine and Hong Kong, eh?

Reuters - stock funds post $10B outflows this week. So... is that money never coming back? Or is it doing a fucking U-turn this afternoon?

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