Chi I am beyond dinpepoistad by your patent non-answer. I asked a good faith question. A response warning me against idolatry and building up the straw man (yet again) of schadenfreude and revenge is unworthy.There is nothing illegitimate in asking how the problem of excess liquidity will be solved by more liquidity (rate cuts), more liquidity (discount windows) and even more liquidity (just throwing cash at it). And if more liquidity isn’t the solution, why on earth suggest throwing good money after bad?I listen. I listen to Bernanke describe a good part of his mandate as price stability and I see inflation . So the only solution (apart from raising interest rates, increasing savings, building capital in an organic fashion) is to inflate out of this mess destroying my savings, the value of my currency (and there WILL be job cuts). And at the end of it we still don’t have a functioning economy. Bummer.Bigger bummer that proponents don’t have the b*lls to be honest about it but are willing to take a you don’t really understand patronizing tone.Well. I didn’t have a problem telling real estate experts 3/4 years ago what I thought about their new paradigm house prices only go up, they aren’t making any more land, yada yada yada.Stuff the bailout. I know it’s coming. But no need to bend over willingly.
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1 comment in this article
November 29, 2012 @ 4:15 pm
Chi I am beyond dinpepoistad by your patent non-answer. I asked a good faith question. A response warning me against idolatry and building up the straw man (yet again) of schadenfreude and revenge is unworthy.There is nothing illegitimate in asking how the problem of excess liquidity will be solved by more liquidity (rate cuts), more liquidity (discount windows) and even more liquidity (just throwing cash at it). And if more liquidity isn’t the solution, why on earth suggest throwing good money after bad?I listen. I listen to Bernanke describe a good part of his mandate as price stability and I see inflation . So the only solution (apart from raising interest rates, increasing savings, building capital in an organic fashion) is to inflate out of this mess destroying my savings, the value of my currency (and there WILL be job cuts). And at the end of it we still don’t have a functioning economy. Bummer.Bigger bummer that proponents don’t have the b*lls to be honest about it but are willing to take a you don’t really understand patronizing tone.Well. I didn’t have a problem telling real estate experts 3/4 years ago what I thought about their new paradigm house prices only go up, they aren’t making any more land, yada yada yada.Stuff the bailout. I know it’s coming. But no need to bend over willingly.