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As an unrelated point, I love Caen and Normandy, more generally. If anyone ever gets a chance to visit the Normandy beaches and the American cemetery, it's a haunting experience and more than worth it.

Don't worry about leaving me hanging, Maverick... It's no more or less than what I deserve after my prolonged absence. However, I don't really get what you're talking about. I am not defending anything, let alone China. I have stated a fact and asked a question. Are you disputing the...

Anton Kreil? Institute of Trading and Portfolio Management! The most comprehensive online trading course in the world! What a joke...

Agreed.

What do you mean "it doesn't work"? The simple fact that you haven't blown up means that "it worked". As to ulterior motives, sure, it's possible (although not sure the ones you list are "ulterior"). But, like you said, it's also possible that aliens land and buy up all your debt with gold...

I don't really understand everything that you're saying here, jem... However, as long as we're talking about China, I think we need further clarification. China was Communist and poor and inefficient etc. However, at some point, while remaining Communist, it managed to turn its situation...

So, like I promised, here's how I view this... To me, your statement above is actually very telling. IMHO, the job of a Fed chairman (as well as a trader and/or risk manager, for that matter) is precisely about "making a guess based on a hypothesis supported by a theory", since, obviously...

I don't want to get involved in this discussion, but I do have to correct you. Nobody dismisses your views and they are much debated (including the many discussions I have had with people, incl on this forum). There is just no evidence whatsoever that the estimates of inflation that put it...

So China is an example of a communist country, right? Still is, right? Soviet Union and the countries of the Warsaw Pact, obviously, are another such example. North Korea, etc. Is that what we're referring to here or is there a larger set?

Why don't we allow Max to respond?

No more questions, your Honor... I was just trying to get to the point where I can explain how I think of these things, if you care.

I am actually serious. I think one of the issues the current debate has (not just on this forum, but rather more generally) is this love of very poorly agreed labels. I would really like to understand what the specific distinguishing features of a "communist" society are. I sure hope it...

That was my attempt to frame the question I asked in the preceding post using your proposed metaphor. If you're not inclined to agree with the way I (ab)used it, it's fine, I don't insist on the specifics. Can you give me a probability estimate, though?

Could you kindly provide an example of "communism"?

Nah, I wasn't going to pull the trigger or anything like that... I don't normally react to a single piece of data. Still, like I said, if the soft data continues and we see weakness in the other stuff that I follow and find significant (e.g. claims, NFIB, etc), I may have to admit that my...

When you say "very low", what numbers are we talking about here? 10%? 5%? Very close to 0%? And yeah, using your (or the article's) metaphor makes some sense, except I am wondering about the 3rd possibility here. What if (and let's assume it's a low probability outcome), your ailment was...

Yeah, it's disappointing, agreed... If this continues, I may have to rethink my thesis.

The media, in its unhealthy fascination with all things Bernanke, made it famous. Bernanke specifically referred to Milton Friedman's concept of a "helicopter drop" in a speech he delivered in 2002. It really should be "Helicopter Milton", to honor the inventor of the concept. [B] Yep...

OKI, makes sense... Let's leave the question of doing away with the Fed for the moment, even though I'd be interested to hear what you would propose as an alternative. But that's for another time/thread. Now, suppose, having done all those things that you describe above (aggressively...

Right, so I am happy to explain my thinking... I will elaborate below. [B] Wait wait wait, I think I didn't phrase my question specifically enough. I was referring to what you would have done if you were at the Fed. Stuff you mention above (e.g. GM, Glass-Steagall, etc) represents...