If you weren't worried about deflation, you may be now-thanks to the Federal Reserve's latest move to jumpstart the languid economy.
In fact, some economists think the central bank's implicit concern about falling prices could help bring about the very situation the Fed is trying to avoid.
"This gets to be a gamesmanship situation," says economist A. Gary Schilling. "On the surface, the Fed is reacting to the threat of deflation and a weak economy. Does it have deflationary implications? I think it does because it says the Fed is concerned. They're obviously preparing more and more for it. People say, 'Maybe I ought to prepare for it?'"Yeah, and the trillions in lost real-estate value and the trillions lost by the big banks have nothing to do with it, it's all the Fed's fault for pointing all this out.
Morons. Shoot the messenger, sure. Roubini caused the economic crisis! Krugman killed the recovery! My lord.
It's true what they say that I don't know anything about economics. It's too much for me cuz I am a dumbass.
ReplyDeleteAll I know is that the economy of the U.S. of A. is a gigantic bingo parlor. It makes me physically ill and I want NOTHING to do with it.
How that plays out in real life? I don't have a clue.
Except that I would really like to curse right now. I'm trying not to, though.
Like I said, I know nothing.