| > Even inaction is a policy Inaction is the only policy. All the other actions are stuff that these people do to justify their existence . With all due respect for Jerome Powell, Bernanke etc. these people are kind of frauds. They are the only academic which are globally known and get all the respect and bows as well as recognition. But their craft is a pseudoscience. The Nobel committee knows this, in fact the Nobel Prize for Economics is commonly referred as such but in reality it's: "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel" Worlds apart. If they were real men they'd pick a real science and face real irrelevance like real men if they are wrong or fail to make important contributions. Only in economics people are still around after getting it wrong so many times. It seems like the more wrong you are , the more recognition you get, as people anticipate that economists who shoot frequently will get it right more than those who shoot infrequently given the randomness of their predictions |