Bernanke pledges to keep interest rates low for at least the next two years – meaning real interest are several percent negative. Large negative interest rates rapidly lead to economic crisis. “The low level of inflation is a validation,†Bernanke said. “There are some who were very concerned that our balance-sheet policies and the like would …
Tag: not the cognitive elite
Not the cognitive elite
According to Murray, in the bad old days of elitism, the university was full of good old boys, rather than the smartest, but now, our elite are a bunch of really smart guys. Leading climate scientist Michael Mann and Nobel Prize winning economist Paul Krugman are really smart guys? The guys who write the New …
billion prices inflation estimate
The billion prices project spiders prices off the internet, and gets results broadly similar to the BLS, about thee percent per year, which surprises me, since over the last three years the BLS has been applying “hedonic adjustments†to all manner of goods where hedonic adjustment is impossible or implausible. Today’s supposedly three percent inflation …
The suicide of the elites
Participatory transexual vomiting as high art. This illustrates Unwin’s “Sex and Culture†– that no civilization long survives the end of the patriarchy and female chastity. Unwin’s suggested explanation for this observation is that civilization is produced by the Freudian energy of sexual repression. I favor the theory that civilization is created by patriarchs for …