By not knowing anything about what he's talking about. This way he's consistent.
Inflation at 53-year low as QE money printing rages unabated!
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By not knowing anything about what he's talking about. This way he's consistent.
November 14, 2014 9:56 a.m.
Inflationista John Cochrane Wrong But Not Sorry
By Jonathan Chait
Greece, I tells ya. Greece! Photo: Joshua Roberts/Bloomberg via Getty Images
“The danger now is inflation,” warned University of Chicago economist and Paul Ryan dinner companion John Cochrane in 2009. He warned of this again in 2010: “A substantial inflation will follow — and likely a ‘stagflation’ not inflation associated with a boom.” And again in 2011. (“As a result of the federal government's enormous debt and deficits, substantial inflation could break out in America in the next few years.”) And again in 2012 (“Inflation Should Be Feared”).
"Inflation has stayed very low. And look, here is John Cochrane in today’s Wall Street Journal editorial page, no longer warning of inflation. Now he is arguing that deflation might be coming, but it's not so bad:
"Yes, that is Professor Cochrane tearing down the goalposts and moving them several miles back."
Article, with working links>>
We've had stagflation, so it's not like he's all that far off of reality. Rising prices, falling or stagnant wages. He's right about deflation as well - it wouldn't be all that bad (except for all those who have debt to pay).
It sounds like he would fit right in with Yellen et al...
Punny
But no answer on those business conditions, eh?
One minute you say he doesn't know anything about what he's talking , and the next you're asking the very same person for answers on business conditions.
.The business condition we should be concerned about is earnings increases coming from cost cutting and tax incentives rather than demand; full-time employees being laid off in favor of contractors and part-time employees without benefits; falling real wages among the middle class!; trickle-up economics!. Destruction of the middle class = demand destruction. Deflation would be disastrous. This is why there won't be any general deflation. just less inflation and more inflation. If inflation gets too high the Fed can bring it down very easily. They have several tools, among which are raising the discount rate, selling bonds, increasing the bank reserve requirement (possible, but unlikely), etc.
You should be more concerned about what Congress does on the fiscal side, and their priorities. Sequestration, as just one example, is not brilliant policy.
You should be more concerned about what Congress does on the fiscal side, and their priorities. Sequestration, as just one example, is not brilliant policy.
as long as smart people don't accept that that govt policies of high taxation are sending jobs overseas...
as long as smart people don't realize that the massive inflation causes by the fed 50 years has been theft from the middle class..
as long as smart people think its fair to have an income tax a fica tax a state tax a property tax a sales tax and everything else adding up to 50 percent or more a working mans income...
as long as smart people bullshit for the cronies... in the crony owned media... we don't really have much of chance.
as long as smart people don't realize that the massive inflation causes by the fed 50 years has been theft from the middle class..
as long as smart people think its fair to have an income tax a fica tax a state tax a property tax a sales tax and everything else adding up to 50 percent or more a working mans income...
as long as smart people bullshit for the cronies... in the crony owned media... we don't really have much of chance.
One minute you say he doesn't know anything about what he's talking , and the next you're asking the very same person for answers on business conditions.
Do they teach the word "rhetorical" in school anymore?