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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: alanrs who wrote (101053)8/20/2009 12:14:51 PM
From: Real Man2 Recommendations  Read Replies (1) of 116555
 
faulty/incomplete analysis, and extreme arrogance, never admitting being wrong.

I will admit being wrong myself last Fall - I looked at the
monetary base and thought the Fed is monetizing through the
roof last Fall, like many others, and thinking this was
very inflationary.

Nope. As Mish correctly explained, reserves piled up there,
which was deflationary. However, it was Wiki article on financial crisis that
helped me understand why that happened - the Fed made it happen!

The deflation claim was that reserves piled up because banks
were scared and refused to lend. Not at all! It was simply wrong.
They can pile up in T-bills for that, and they did. The Fed
made them reserves go into the Fed and produce a large DRAIN,
for whatever reasons (shoring up the buck???)

Needless to say, this info is all like peanuts for the pros,
they know it.
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