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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (75259)12/11/2006 1:26:19 PM
From: Wyätt Gwyön  Read Replies (1) of 110194
 
If you think you can find an economist as well respected as Paul Kasriel to rebut that article, then please be my guest.

which article do you mean? do you mean the interview you had with Kasriel? i'm sure Bernanke would disagree with large parts of what Kasriel said--Kasriel dismisses out of hand Bernanke's longstanding assertion that the Fed didn't "do enough" during the Great Depression (and the corollary that Japan didn't do enough either). do you think Bernanke is simply going to agree with the man who dismisses one of his most famous assertions? and Gentle Ben is more respected and smarter than Kasriel. even Kasriel will admit this, unless he got a 1600 on his SAT.

that doesn't mean Kasriel is right or wrong. economics has so much noise in it people can and will claim every position on the map. these debates are like proving how many angels can dance on a pinhead.* people are usually just talking their book or their prejudices. "professional" economists obviously have a huge personal investment in their particular positions that has nothing to do with revealing the "truth", if it can ever be said to be revealed in economics.

as for Japan and the US today, they are different, yes? my guess is the outcome will surprise everybody. everybody will continue to claim their own position is right, but only a lucky few will have positioned their investments fortuitously enough ex ante to benefit in the long run. that's market efficiency for ya. those not lucky enough to invest well can try their luck at joining the commentariat.

* correct answer: "All of them"
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