As we begin 2013, we reflect on some economic predictions that never came true. After the Fed’s unprecedented actions in 2008, some predicted massive double digit inflation by now. Yet headline consumer price inflation, as of November 2012, was below 2 percent. And as for inaccurate predictions, the Federal Reserve’s expectations of growth over the past 10 years have greatly overstated actual growth. These inaccurate predictions are now the basis for Fed policy, as the FOMC announced in December “The Committee…currently anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as…inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal.” We talk to Pragmatic Capitalist Cullen Roche about why so many wrongly predicted inflation and what the Fed’s overly optimistic past predictions mean for its future interest rate guidance. He breaks down monetary mechanics and his view on why this understanding is missing from mainstream economics.
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Lies!!!
“…”greatly overstated” is an UNDERstatement!
Bernankster!
@SilverSlicker, that image looks like the result of a ménage à trois between Bernanke, Pinocchio and Moe from the three stooges.
Actually, this viewer just lost his breakfast after looking at that.
Folks listen up! You simply cannot believe a word the government states. All are lies and misrepresentations.
All the crap you hear about growth of our economy is homogenized Horse Caca!
Umm I think we all kno wthis, why else would we be stacking silver? Economy is tanked.
@Ranger Do You Mean Total Bullshit? LMAO
yes, but it is homogenized bullshit. much like raw milk, raw bullshit would be unsafe to consume.
lmao.
Dirt Lump,
I was trying to be nice about it. As you know Horse shit comes in balls. But make no mistake the entire U S government is constipated.
Ranger
Now I know why I need to wear Depends when reading your posts. Funny how we all know exactly who you represented in your photoshop of B.
In a way it’s sad that when waking up from the Hegelian Dialect Paradigm of predigested economic pablum I/we’ve been fed for decades. The lies come from two or three directions, designed to keep us confused and chasing our tails, not know whether to s** or go blind. Something I think it owuld be easier to just go back to sleep. However, that’d mean we wouldn’t be having all these interesting conversations. Awake, such as it is, beats asleep. Stacked Silver and gold are better than a triple expresso.
there havent been honest stats out of the government since it was taken over by goldman sachs et al back in the nineties
just keep stacking …. easy to say a lie harder to live it
sorry the stats are from the federal reserve they were never taken over they have always been owned by the bankers … there has never been an honest stat from the reserve since its inception