Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Mark Adams who wrote (106894)	6/6/2001 1:30:16 PM
From: yard_man	Read Replies (1) of 436258

your rambling (not to slight you in the least) shows the part of the inadequacies of a monetary policy aimed at the targetting of the stability of certain price levels or price indexes through the setting of short-term interest rates. Right off, it doesn't allow for changing preferences over time. It also tends to short-circuit individual price swings that might prove beneficial in the longer term ... If AG doesn't know what money is, how can we be sure BLS has the right basket of goods in their CPI? Guess it doesn't matter -- the whole thing is a ruse to allow them to inflate whenever they want to and to tell us we aren't worse off for it. But back to your "pushing on a string" -- the whole idea is backwards -- trying to stimulate or move the demand of the markets because somehow they've gotten it wrong -- no, the underlying cause is the distortion introduced by the meddling banker in the first place -- there is natural corrective feedback in the marketplace that can work, but it is frustrated by the monetary policy (i.e. tampering with the amount and / or cost of funds).

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