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In an interview setting, would you be able to talk coherently about all this stuff? http://itunes.apple.com/ca/itunes-u/introduction-to-algorithms/id341597754

The only way to have prevented that would have been by permanently tanking the global economy. Bernanke's doesn't have a fraction of the power attributed to him...

I don't think it will work, because we would still have an even bigger rate distorter in the taxpayer-backed MBS market. That should IMO be the first thing we get rid of, because there is nothing even remotely natural or "free market" about 30 year mortgages at any rate, never mind at 3%.

I'm sure lack of economic brings deflation. But honestly, we're in the tall grass without defining all these things anyway... :) The difficulty, IMO, is we keep talking about money, when money itself is the least meaningful facet of policy.

Nobody is "cornering the market" on oil. Nobody - not even the countries that store the stuff in their own ground, is powerful enough to do that. The price is what it is because we're running low on the cheap stuff and replacement volume is bloody expensive.

If we magically found a 100 year supply of $15/bbl oil that could come on line in six months, inflation would spike hard as economic activity would absolutely boom from current levels.

Yes and no. In the modern west, it's probably ok to think of it that way, because we have so little poverty in the absolute sense of the word. But you go to (e.g.) Nigeria, and you'll find both absolute and relative poverty.

It should be a clue that theory is based on a buried assumption of dubious validity.

If you think about it, that's quite a profound statement about market structure...

Unrestricted capitalism means most people will be poor. No middle class. No "bulge" in the wealth distribution, just a Pareto curve. That's what we all want, right?

This same story has come up at least once a year for the better part of a decade.

Money is just a proxy for energy. For us, that means oil. There will be no "inflation bubble" until we find a plentiful source of $15/bbl oil.

Interesting that JPM and CME are on opposite ends of that deal.

The car guys figured that out decades before Apple was a gleam in Jobs' eyes. People have better things to do with their time than waste it fighting the tools that are supposed to be helping them...

Some day the sun will supernova, too. In the long run we're all dead. Do you have anything more specific to say on this, or are you just shooting' the shit?

On which planet is that, exactly? Because it sure isn't Planet Earth.

I'm pretty sure I understand what you're trying to say - perhaps a better way to state it is "as long as oil price goes up, enough oil will be produced to meet demand". Because we already have "shortage", in the strict sense of the word, as demand predicated on cheap supply is already being...

What about it? This is what Peak Oil said would happen.

Excellent response. Being a rude fuck is a first rate way to engage people, especially when you need help. Cheers.

If Greece goes "bankrupt", the Euro will go up.