P³ on Andy Haldane and inflation:

It was at this juncture that I realised I was reading the work of someone who I think I can appropriately describe as a fool.

Basically, Haldane says that the increase in the money supply might come through as inflation, might not. We’ll see.

The P³ insists that it cannot because if it did then QE would have to be reversed and that would shatter his MMT projections. So, therefore, it won’t.

The beauty of this is that if increased money supply doesn’t juice the economy then MMT wouldn’t work at all. Yet P³ wants to insist that it does but also that there will be no inflation.

Hmm….

10 thoughts on “Hmm”

  1. An interesting philosophical speculation: who is more foolish, the fool or someone whom the fool thinks is a fool?

  2. Is Spud a graduate of Ecksy’s School of Charm, or vice-versa?

    The similarities of expression and attitude are similar, though Spud’s spelling and syntax are marginally better.

  3. I’m guessing P3 has no mirrors in his palace (for one so talented & wonderful could not live in a normal house), otherwise he’d see someone whom most would ‘appropriately describe as a fool’.

  4. Haldane is pretty smart – certainly he doesn’t demonstrate a total lack of understanding of anything he opines on, which is untrue of the potato. As far as we can ascertain Murphy has demonstrated a total and unmitigated ignorance of: History, politics, economics, law, philosophy, ethics, accounting, tax, sociology, finance and epidemiology. The most disturbing thing about the EU is how they were willing to fund such a moron.

  5. Ken: The most disturbing thing about the EU is how they were willing to fund such a moron.

    The EU would fund any moron who is prepared to proselytize in their interest.

  6. You are the mug who declared the Tory Party as “bulwark against Marxism” Theo. An all time moron remark equal to any of Spud’s output. And he didn’t have an expensive private education either. Nor did anyone make you spew out the label fascist against others while gloating about who should die to make the UK whiter and brighter.

    Shame if you find the having the repellent and foolish content of your own brain pan flagged up to be less than charming. Dreadful sorry Clementine.

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