tag:blogger.com,1999:blog-6616959642391988608.post8749884879370856527..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: QE2 rumored to disappoint, but that's good newsScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-6616959642391988608.post-12626726236177524942010-10-28T13:42:46.846-07:002010-10-28T13:42:46.846-07:00There is nothing in the way of drubbing in this ch...There is nothing in the way of drubbing in this chart of the GLD Trust.<br /><br />http://www.google.com/finance?client=ig&q=GLD<br /><br />The longer your vantage point, the more bullish it looks...Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-35649181816845344952010-10-28T13:39:55.034-07:002010-10-28T13:39:55.034-07:00Why is it when the equity market pulls back from r...Why is it when the equity market pulls back from rallies you call it expected, necessary, and that a rise in the face of fear is always bumpy yet when gold pulls back from its meteoric rise (in the face of fiat fear I might add), it takes a drubbing?Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-40814686499019406782010-10-28T05:36:54.982-07:002010-10-28T05:36:54.982-07:00I would say "quantitative easing" by the...I would say "quantitative easing" by the Fed will probably be light -- in other words, those hoping for a "shock and awe" campaign by the Federal Reserve are delusional. On the other hand, it does sound as if the Fed is moving toward monetary contraction either, so the status quo is likely to guide US monetary policy in the coming months.<br /><br />Nevertheless, the problem McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-34527400555075380102010-10-28T05:31:01.555-07:002010-10-28T05:31:01.555-07:00This comment has been removed by the author.McKibbinUSAhttps://www.blogger.com/profile/10545798495680527622noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-2798460538990130822010-10-27T20:59:00.229-07:002010-10-27T20:59:00.229-07:00Last fall The Federal Reserve of Richmond put out ...Last fall The Federal Reserve of Richmond put out a special issue of Economic Quarterly regarding The Phillips Curve and in particular the New Phillips Curve promoted by new-Keynesians. The conclusions are not to rosy for The Phillips Curve (but we already know that). The content is as follows:<br /><br />Introduction to the New Keynesian Phillips Curve by Andreas Hornstein <br />The Phillips W.E. Heasleyhttps://www.blogger.com/profile/00368333904571061995noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-22096839465153589782010-10-27T18:48:32.862-07:002010-10-27T18:48:32.862-07:00As you suggest, the Fed still believes in the Phil...As you suggest, the Fed still believes in the Phillips Curve. That's the main reason they have made mistake after mistake over the past 15 years.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-56196000530480058972010-10-27T18:22:33.743-07:002010-10-27T18:22:33.743-07:00Mr. Grannis:
Since the Fed seems determined to br...Mr. Grannis:<br /><br />Since the Fed seems determined to bring inflation “back to trend” and simultaneously with a mandate of promoting full employment, well….inflation as a trade off for employment smells of The Phillips Curve.W.E. Heasleyhttps://www.blogger.com/profile/00368333904571061995noreply@blogger.com