Now 20 years ago; this would have been considered crazy talk! Now, it’s main stream… Somewhere Ron Paul is smiling broadly.
Like a mad aunt, the Fed is slowly losing its marbles.
Kartik Athreya, senior economist for the Richmond Fed, has written a paper condemning economic bloggers as chronically stupid and a threat to public order.
Matters of economic policy should be reserved to a priesthood with the correct post-doctoral credentials, which would of course have excluded David Hume, Adam Smith, and arguably John Maynard Keynes (a mathematics graduate, with a tripos foray in moral sciences).
[…]
“Economics is hard. Really hard. You just won’t believe how vastly hugely mind-boggingly hard it is. I mean you may think doing the Sunday Times crossword is difficult, but that’s just peanuts to economics. And because it is so hard, people shouldn’t blithely go shooting their mouths off about it, and pretending like it’s so easy. In fact, we would all be better off if we just ignored these clowns.”
via Time to shut down the US Federal Reserve? – Telegraph Blogs.
I encourage you to go read the rest of this; because it is very, very interesting. I just cannot believe that talk of closing the fed is now mainstream! WOW!
Others: The Other McCain