Quantitative Easing Explained

hilarious! http://www.minyanville.com/dailyfeed/quantitative-easing-explained/?camp=syndication&medium=portals&from=yahoo

Pretty funny! Except for all the mental shortcuts that lead to wrong conclusions.

bchadwick Wrote: ------------------------------------------------------- > Pretty funny! Except for all the mental shortcuts > that lead to wrong conclusions. But of course all of the analysis is a “mental shortcut”, since we don’t really know how to model the economy, have good inputs ,or have the ability to repeatedly test hypotheses. Macroeconomics is not a science, despite what the economists tell you.

Yes, but some analyses are clearly worse than others.

bchadwick Wrote: ------------------------------------------------------- > Yes, but some analyses are clearly worse than > others. Indeed, but knowing which is which is also impossible.

Not true. There may be no scientifically watertight way to know if Michael Jordan is a better basketball player than Magic Johnson, but you can clearly establish that both are better than me.

bchadwick Wrote: ------------------------------------------------------- > Not true. > > There may be no scientifically watertight way to > know if Michael Jordan is a better basketball > player than Magic Johnson, but you can clearly > establish that both are better than me. Lol, ok ok, but in this case neither MJs have ever won a game of basketball and you may or may not be playing basketball going forward. Now I’m not so sure I shouldn’t play you instead.