• economists are useless, or worse

    From John Larkin@21:1/5 to All on Wed Jun 29 17:50:45 2022
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    --

    If a man will begin with certainties, he shall end with doubts,
    but if he will be content to begin with doubts he shall end in certainties. Francis Bacon

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Ed Lee@21:1/5 to John Larkin on Wed Jun 29 18:39:44 2022
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    I doubt that he doesn't understand increased liquidity (pandemic or otherwise) drives inflation. But it's easier to say I didn't know than to say I lied to you.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From jlarkin@highlandsniptechnology.com@21:1/5 to edward.ming.lee@gmail.com on Wed Jun 29 19:17:01 2022
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward.ming.lee@gmail.com> wrote:

    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    I doubt that he doesn't understand increased liquidity (pandemic or otherwise) drives inflation. But it's easier to say I didn't know than to say I lied to you.

    Or he doesn't understand basic economics.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From John Doe@21:1/5 to John Larkin on Thu Jun 30 02:52:26 2022
    XPost: free.spam

    Off-topic troll...

    --
    John Larkin <jlarkin@highland_atwork_technology.com> wrote:

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    NNTP-Posting-Date: Wed, 29 Jun 2022 19:50:45 -0500
    From: John Larkin <jlarkin@highland_atwork_technology.com>
    Newsgroups: sci.electronics.design
    Subject: economists are useless, or worse
    Date: Wed, 29 Jun 2022 17:50:45 -0700
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    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    --

    If a man will begin with certainties, he shall end with doubts,
    but if he will be content to begin with doubts he shall end in certainties. Francis Bacon

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Edward Hernandez@21:1/5 to All on Thu Jun 30 02:53:47 2022
    XPost: free.spam

    Troll Doe stated the following in message-id
    <svsh05$lbh$5@dont-email.me>
    (http://al.howardknight.net/?ID=164904625100) posted Fri, 4 Mar 2022
    08:01:09 -0000 (UTC):

    Compared to other regulars, Bozo contributes practically nothing
    except insults to this group.

    Yet, since Wed, 5 Jan 2022 04:10:38 -0000 (UTC) Troll Doe's post ratio
    to USENET (**) has been 66.5% of its posts contributing "nothing except insults" to USENET.

    ** Since Wed, 5 Jan 2022 04:10:38 -0000 (UTC) Troll Doe has posted at
    least 2498 articles to USENET. Of which 176 have been pure insults and
    1486 have been Troll Doe "troll format" postings.

    The John Dope troll stated the following in message-id <sdhn7c$pkp$4@dont-email.me>:

    The troll doesn't even know how to format a USENET post...

    And the John Dope troll stated the following in message-id <sg3kr7$qt5$1@dont-email.me>:

    The reason Bozo cannot figure out how to get Google to keep from
    breaking its lines in inappropriate places is because Bozo is
    CLUELESS...

    And yet, the clueless John Dope troll has continued to post incorrectly formatted USENET articles that are devoid of content (latest example on
    Thu, 30 Jun 2022 02:52:26 GMT in message-id <Kd8vK.51397$Zth9.15139@usenetxs.com>).

    NOBODY likes the John Doe troll's contentless spam.

    This posting is a public service announcement for any google groups
    readers who happen by to point out that Troll Doe does not even follow
    the rules it uses to troll other posters.

    ndaIALw6sIF4

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  • From rbowman@21:1/5 to jlarkin@highlandsniptechnology.com on Wed Jun 29 21:16:20 2022
    On 06/29/2022 08:17 PM, jlarkin@highlandsniptechnology.com wrote:
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward.ming.lee@gmail.com> wrote:

    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    I doubt that he doesn't understand increased liquidity (pandemic or otherwise) drives inflation. But it's easier to say I didn't know than to say I lied to you.

    Or he doesn't understand basic economics.


    Considering about 400 Ph.D economists work for the Fed you'd think one
    or two would have some grasp.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From John Doe@21:1/5 to John Doe on Thu Jun 30 05:23:08 2022
    XPost: free.spam, free.spam

    Eddie, the Astraweb nym-shifting forger is trolling off-topic and other posts with its copy of my ID, then replies (or not) to its own post.

    See also...
    Edward H. <dtgamer99 gmail.com>
    Edward Hernandez <dtgamer99 gmail.com>
    Peter Weiner <dtgamer99 gmail.com>
    John Doe <always.look message.header> (Astraweb, Aioe.org)
    Bertrand Sindri <bertrand.sindri yahoo.com> (unlikely but possible)

    --
    John Doe <always.look@message.header> wrote:

    Path: eternal-september.org!reader01.eternal-september.org!news.uzoreto.com!feeder1.feed.usenet.farm!feed.usenet.farm!news-out.netnews.com!news.alt.net!fdc2.netnews.com!peer03.ams1!peer.ams1.xlned.com!news.xlned.com!peer02.ams4!peer.am4.highwinds-media.
    com!news.highwinds-media.com!fx06.ams4.POSTED!not-for-mail
    From: John Doe <always.look@message.header>
    Newsgroups: sci.electronics.design,free.spam
    Subject: economists are useless, or worse
    Followup-To: alt.test.group
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    Off-topic troll...

    --
    John Larkin <jlarkin@highland_atwork_technology.com> wrote:

    Path: not-for-mail
    NNTP-Posting-Date: Wed, 29 Jun 2022 19:50:45 -0500
    From: John Larkin <jlarkin@highland_atwork_technology.com>
    Newsgroups: sci.electronics.design
    Subject: economists are useless, or worse
    Date: Wed, 29 Jun 2022 17:50:45 -0700
    Organization: Highland Tech
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    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    --

    If a man will begin with certainties, he shall end with doubts,
    but if he will be content to begin with doubts he shall end in certainties. >> Francis Bacon




    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Edward Hernandez@21:1/5 to All on Thu Jun 30 06:03:04 2022
    XPost: free.spam, free.spam

    In message-id <t6nt3e$7bp$3@dont-email.me> (http://al.howardknight.net/?ID=165357273000) posted Thu, 26 May 2022
    12:50:54 -0000 (UTC) Troll Doe stated:

    Always Wrong, the utterly foulmouthed group idiot, adding absolutely
    NOTHING but insults to this thread, as usual...

    Yet, since Wed, 5 Jan 2022 04:10:38 -0000 (UTC) Troll Doe's post ratio
    to USENET (**) has been 66.6% of its posts contributing "nothing except insults" to USENET.

    ** Since Wed, 5 Jan 2022 04:10:38 -0000 (UTC) Troll Doe has posted at
    least 2506 articles to USENET. Of which 176 have been pure insults and
    1493 have been Troll Doe "troll format" postings.

    The John Doe troll stated the following in message-id <sdhn7c$pkp$4@dont-email.me>:

    The troll doesn't even know how to format a USENET post...

    And the John Doe troll stated the following in message-id <sg3kr7$qt5$1@dont-email.me>:

    The reason Bozo cannot figure out how to get Google to keep from
    breaking its lines in inappropriate places is because Bozo is
    CLUELESS...

    And yet, the clueless John Doe troll has continued to post incorrectly formatted USENET articles that are devoid of content (latest example on
    Thu, 30 Jun 2022 05:23:08 -0000 (UTC) in message-id <t9jbvs$1n7td$3@dont-email.me>).

    NOBODY likes the John Doe troll's contentless spam.

    This posting is a public service announcement for any google groups
    readers who happen by to point out that John Dope does not even follow
    the rules it uses to troll other posters.

    Te6oBWAmFPj4

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Anthony William Sloman@21:1/5 to rbowman on Thu Jun 30 04:29:05 2022
    On Thursday, June 30, 2022 at 1:16:27 PM UTC+10, rbowman wrote:
    On 06/29/2022 08:17 PM, jla...@highlandsniptechnology.com wrote:
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward....@gmail.com> wrote:

    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    I doubt that he doesn't understand increased liquidity (pandemic or otherwise) drives inflation. But it's easier to say I didn't know than to say I lied to you.

    Or he doesn't understand basic economics.

    Considering about 400 Ph.D economists work for the Fed you'd think one
    or two would have some grasp.

    Breitbart wouldn't see any political advantage in admitting it.

    --
    Bill Sloman, Sydney

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From John Larkin@21:1/5 to jlarkin@highland_atwork_technology. on Thu Jun 30 12:51:43 2022
    On Wed, 29 Jun 2022 17:50:45 -0700, John Larkin <jlarkin@highland_atwork_technology.com> wrote:


    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    Canadian economists are no better.

    https://wolfstreet.com/2022/06/24/inflation-forecasts-arent-worth-the-paper-theyre-written-on-this-is-about-the-bank-of-canadas-reaction-to-inflation-but-its-the-same-in-the-us-a/

    --

    If a man will begin with certainties, he shall end with doubts,
    but if he will be content to begin with doubts he shall end in certainties. Francis Bacon

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Anthony William Sloman@21:1/5 to John Larkin on Thu Jun 30 18:25:39 2022
    On Friday, July 1, 2022 at 5:51:53 AM UTC+10, John Larkin wrote:
    On Wed, 29 Jun 2022 17:50:45 -0700, John Larkin <jlarkin@highland_atwork_technology.com> wrote:


    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    Canadian economists are no better.

    https://wolfstreet.com/2022/06/24/inflation-forecasts-arent-worth-the-paper-theyre-written-on-this-is-about-the-bank-of-canadas-reaction-to-inflation-but-its-the-same-in-the-us-a/

    And why should we pay any more attention to Wolf Richter's opinions than we pay to Breitbart's or John Larkin's?

    He pander's to the ill-informed, and when it comes to economics few are as poorly informed as John Larkin.

    If a man will begin with certainties, he shall end with doubts,

    John Larkin is certain that economists are useless.

    --
    Bill Sloman, Sydney

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Les Cargill@21:1/5 to Ed Lee on Fri Jul 1 19:11:15 2022
    Ed Lee wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.


    Yeah, but *when*? Variable lags will kill your ability to predict things.

    --
    Les Cargill

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Les Cargill@21:1/5 to John Larkin on Fri Jul 1 19:10:14 2022
    John Larkin wrote:

    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    The Fed isn't completely abut economics.

    Try themoneyillusion.com. Scott Sumner.

    He wants NGDP targeting, which looks like crude "controls" controls
    ( as in PID, Kalman ) but actually has an underlying story even I
    can understand.

    And, FWIW:

    "Real gross domestic product (GDP) decreased at an annual rate
    of 1.6 percent in the first quarter of 2022, according to the "third"
    estimate released by the Bureau of Economic Analysis. In the fourth
    quarter of 2021, real GDP increased6.9 percent.
    "
    https://www.bea.gov/sites/default/files/2022-06/gdp1q22_3rd.pdf

    plus wages are up like 17% year over year.

    Short, sharp recession after all the jiggery pokery from 2020/2021 and
    then a return to the same-old, same old.

    --
    Les Cargill

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Les Cargill@21:1/5 to rbowman on Fri Jul 1 19:12:17 2022
    rbowman wrote:
    On 06/29/2022 08:17 PM, jlarkin@highlandsniptechnology.com wrote:
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward.ming.lee@gmail.com> wrote:

    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation.  But it's easier to say I didn't know
    than to say I lied to you.

    Or he doesn't understand basic economics.


    Considering about 400 Ph.D economists work for the Fed you'd think one
    or two would have some grasp.

    Considering more than 400 engineers work for Boeing, you'd think
    the 737MAX would work.

    It's like that...

    --
    Les Cargill

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Anthony William Sloman@21:1/5 to John Larkin on Fri Jul 1 17:26:55 2022
    On Saturday, July 2, 2022 at 10:19:21 AM UTC+10, John Larkin wrote:
    On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com>
    wrote:
    Ed Lee wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.


    Yeah, but *when*? Variable lags will kill your ability to predict things.

    If people don't understand control theory.

    The economy is a complex non-linear system. Control theory works for linear systems, or systems you can linearise. Real systems tend to stop looking linear or linearisable when they hit the rails. John Larkin seems to think that economists ought to be
    able to do as well at controlling a really complex system as he can do on much simpler systems, so the failure of understanding is all his.

    --
    Bill Sloman, Sydney

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From John Larkin@21:1/5 to All on Fri Jul 1 17:19:11 2022
    On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcargil99@gmail.com>
    wrote:

    Ed Lee wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.


    Yeah, but *when*? Variable lags will kill your ability to predict things.

    If people don't understand control theory.

    --

    If a man will begin with certainties, he shall end with doubts,
    but if he will be content to begin with doubts he shall end in certainties. Francis Bacon

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Les Cargill@21:1/5 to John Larkin on Fri Jul 1 20:16:45 2022
    John Larkin wrote:
    On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcargil99@gmail.com>
    wrote:

    Ed Lee wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.


    Yeah, but *when*? Variable lags will kill your ability to predict things.

    If people don't understand control theory.


    Right. That's the problem.

    --
    Les Cargill

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From rbowman@21:1/5 to John Larkin on Fri Jul 1 20:13:42 2022
    On 07/01/2022 06:19 PM, John Larkin wrote:
    On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcargil99@gmail.com>
    wrote:

    Ed Lee wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.


    Yeah, but *when*? Variable lags will kill your ability to predict things.

    If people don't understand control theory.


    If PID loops worked like economists the world would be filled with
    industrial disasters.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From rbowman@21:1/5 to Les Cargill on Fri Jul 1 20:35:31 2022
    On 07/01/2022 06:12 PM, Les Cargill wrote:
    rbowman wrote:
    On 06/29/2022 08:17 PM, jlarkin@highlandsniptechnology.com wrote:
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward.ming.lee@gmail.com> wrote:

    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.

    Or he doesn't understand basic economics.


    Considering about 400 Ph.D economists work for the Fed you'd think one
    or two would have some grasp.

    Considering more than 400 engineers work for Boeing, you'd think
    the 737MAX would work.

    It's like that...

    https://www.cnn.com/2022/06/30/politics/us-hypersonic-missile-test-fails/index.html


    When I graduated in the '60s RPI, the oldest technological university in
    the US, was ranked in the top 3, trading places with MIT and Cal Tech.
    Now it's tied with Florida State at #55, but it has one hell of a
    performing arts center:

    https://www.empac.rpi.edu/about

    Maybe Boeing, General Atomics, and so forth didn't get the memo... This
    was decades ago but when my brother worked for Boeing they would hire a
    fresh crop of engineers and fire most of them after evaluating their performance for a year. Chopping out deadwood probably is a lot harder
    in these kinder times. Unfortunately reality intrudes when you're
    dealing with missiles and aircraft.

    Parenthetically, the CHGB is destined for the Zumwalt, another expensive
    design that doesn't work too well.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From whit3rd@21:1/5 to John Larkin on Fri Jul 1 20:25:29 2022
    On Friday, July 1, 2022 at 5:19:21 PM UTC-7, John Larkin wrote:
    On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com>
    wrote:
    Ed Lee wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.

    Yeah, but *when*? Variable lags will kill your ability to predict things.

    If people don't understand control theory.

    Nah; if it were only control theory, they'd have had it sussed. What fails, is human response - like when they think someone's lying. FDR could
    convince folk to trust banks after a bank holiday... that's not an economics science application, it's effective social engineering.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Anthony William Sloman@21:1/5 to rbowman on Fri Jul 1 21:31:25 2022
    On Saturday, July 2, 2022 at 12:13:50 PM UTC+10, rbowman wrote:
    On 07/01/2022 06:19 PM, John Larkin wrote:
    On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com>
    wrote:

    Ed Lee wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.


    Yeah, but *when*? Variable lags will kill your ability to predict things.

    If people don't understand control theory.

    If PID loops worked like economists the world would be filled with
    industrial disasters.

    You don't use PID loops to control complex systems with non-linear transfer function and lots of cross-connected inputs and outputs.

    https://en.wikipedia.org/wiki/Econometrics

    is designed to collect the information you'd need to set up a control system that might work.

    https://en.wikipedia.org/wiki/Mathematical_economics

    does seem to suggest that we haven't collected enough yet.

    --
    Bill Sloman, Sydney

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Les Cargill@21:1/5 to rbowman on Sat Jul 2 17:57:40 2022
    rbowman wrote:
    On 07/01/2022 06:12 PM, Les Cargill wrote:
    rbowman wrote:
    On 06/29/2022 08:17 PM, jlarkin@highlandsniptechnology.com wrote:
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward.ming.lee@gmail.com> wrote:

    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote: >>>>>> https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/



    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation.  But it's easier to say I didn't know
    than to say I lied to you.

    Or he doesn't understand basic economics.


    Considering about 400 Ph.D economists work for the Fed you'd think one
    or two would have some grasp.

    Considering more than 400 engineers work for Boeing, you'd think
    the 737MAX would work.

    It's like that...

    https://www.cnn.com/2022/06/30/politics/us-hypersonic-missile-test-fails/index.html



    When I graduated in the '60s RPI, the oldest technological university in
    the US, was ranked in the top 3, trading places with MIT and Cal Tech.
    Now it's tied with Florida State at #55, but it has one hell of a
    performing arts center:

    https://www.empac.rpi.edu/about

    Maybe Boeing, General Atomics, and so forth didn't get the memo...  This
    was decades ago but when my brother worked for Boeing they would hire a
    fresh crop of engineers and fire most of them after evaluating their performance for a year. Chopping out deadwood probably is a lot harder
    in these kinder times. Unfortunately reality intrudes when you're
    dealing with missiles and aircraft.

    Parenthetically, the CHGB is destined for the Zumwalt, another expensive design that doesn't work too well.




    Boeing et al are run by the finance people. After all, the anthropic
    principle is a harsh mistress.

    Chopping out deadwood probably is a lot harder
    in these kinder times.

    Engineering labor is a seller's market now. It's not
    out of kindness, either. It's all the billions sloshing towards
    Gomorrah... er, Silicon Valley.

    We're overdue for a nice bust, I think. No, not *that* kind of bust -
    an economic one.

    --
    Les Cargill

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Les Cargill@21:1/5 to All on Sat Jul 2 18:07:13 2022
    whit3rd wrote:
    On Friday, July 1, 2022 at 5:19:21 PM UTC-7, John Larkin wrote:
    On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com>
    wrote:
    Ed Lee wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.

    Yeah, but *when*? Variable lags will kill your ability to predict things.

    If people don't understand control theory.

    Nah; if it were only control theory, they'd have had it sussed. What fails,
    is human response - like when they think someone's lying. FDR could convince folk to trust banks after a bank holiday... that's not an economics science application, it's effective social engineering.


    But controlling the money supply - which, having been done badly was the
    root cause of the bank holidays - is somewhat closer to controls.

    How close?

    We don't really know. But there are at least no more WIN buttons.

    --
    Les Cargill

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Anthony William Sloman@21:1/5 to Les Cargill on Sat Jul 2 18:17:08 2022
    On Sunday, July 3, 2022 at 8:57:48 AM UTC+10, Les Cargill wrote:
    rbowman wrote:
    On 07/01/2022 06:12 PM, Les Cargill wrote:
    rbowman wrote:
    On 06/29/2022 08:17 PM, jla...@highlandsniptechnology.com wrote:
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward....@gmail.com> wrote:

    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote: >>>>>> https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    I doubt that he doesn't understand increased liquidity (pandemic or >>>>> otherwise) drives inflation. But it's easier to say I didn't know >>>>> than to say I lied to you.

    It's unlikely that anybody lied. John Doe posts a lot of untruth's but he isn't lying - he's just too dim and informed to realise that he is lying.

    Or he doesn't understand basic economics.

    Even less likely.

    Considering about 400 Ph.D economists work for the Fed you'd think one or two would have some grasp.

    Rbowman doesn't have enough grasp of economics to know what he wants them to know.

    Considering more than 400 engineers work for Boeing, you'd think the 737MAX would work.

    It's like that...

    https://www.cnn.com/2022/06/30/politics/us-hypersonic-missile-test-fails/index.html

    When I graduated in the '60s RPI, the oldest technological university in the US, was ranked in the top 3, trading places with MIT and Cal Tech.
    Now it's tied with Florida State at #55, but it has one hell of a performing arts center:

    https://www.empac.rpi.edu/about

    Maybe Boeing, General Atomics, and so forth didn't get the memo... This was decades ago but when my brother worked for Boeing they would hire a fresh crop of engineers and fire most of them after evaluating their performance for a year. Chopping out deadwood probably is a lot harder
    in these kinder times. Unfortunately reality intrudes when you're
    dealing with missiles and aircraft.

    The performing arts make a lot of money, and they make it faster than you do if spends years developing a better hypersonic mouse-trap. That's probably the reality that is intruding here.

    Parenthetically, the CHGB (Common-Hypersonic Glide Body) is destined for the Zumwalt, another expensive design that doesn't work too well.

    Not all that surprising, since the weapons systems it was originally designed to lug around kept on getting cancelled.

    Boeing et al are run by the finance people. After all, the anthropic principle is a harsh mistress.

    Chopping out deadwood probably is a lot harder in these kinder times.

    And once the word got around, the new hires weren't going to be all that interested in taking a job fro,m which they'd probably be fired after the first year.
    The kind of over-confident twit who is convinced that they will end up as one of the favoured few doesn't make a great engineer.

    Engineering labor is a seller's market now. It's not out of kindness, either. It's all the billions sloshing towards Gomorrah... er, Silicon Valley.

    We're overdue for a nice bust, I think. No, not *that* kind of bust - an economic one.

    Economists - for all their perceived incompetence - have gotten a lot better at avoiding full-fledged depressions in recent decades.

    They may not know enough about the beast they are trying to be able use control theory to keep it pointed exactly in the right direction, but they do seem to know enough to keep going in more or less the right direction.

    --
    Bill Sloman, Sydney

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From John Doe@21:1/5 to Anthony William Sloman on Sun Jul 3 02:43:22 2022
    XPost: free.spam

    Bill "Bozo" Sloman is an Australian troll. Bozo is an incessant liar who
    cannot be reasoned with. Its fiction never ends.

    "the user has posted under the same name in other places, so not
    nym-shifting" (Bozo sucks at logic)

    "the Mueller investigation was about Trump only because Trump made it so"
    (Bozo being Bozo)

    "the concepts "male" and "female" are essentially social constructions"
    (Bozo is a textbook cannibal leftist)

    --
    Anthony William Sloman <bill.sloman@ieee.org> wrote:

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    From: Anthony William Sloman <bill.sloman@ieee.org>
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    Xref: reader01.eternal-september.org sci.electronics.design:673131

    On Sunday, July 3, 2022 at 8:57:48 AM UTC+10, Les Cargill wrote:
    rbowman wrote:
    On 07/01/2022 06:12 PM, Les Cargill wrote:
    rbowman wrote:
    On 06/29/2022 08:17 PM, jla...@highlandsniptechnology.com wrote:
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward....@gmail.com> wrote:

    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.

    It's unlikely that anybody lied. John Doe posts a lot of untruth's but he isn't lying - he's just too dim and informed to realise that he is lying.

    Or he doesn't understand basic economics.

    Even less likely.

    Considering about 400 Ph.D economists work for the Fed you'd think one or two would have some grasp.

    Rbowman doesn't have enough grasp of economics to know what he wants them to know.

    Considering more than 400 engineers work for Boeing, you'd think the 737MAX would work.

    It's like that...

    https://www.cnn.com/2022/06/30/politics/us-hypersonic-missile-test-fails/index.html

    When I graduated in the '60s RPI, the oldest technological university in >> > the US, was ranked in the top 3, trading places with MIT and Cal Tech.
    Now it's tied with Florida State at #55, but it has one hell of a
    performing arts center:

    https://www.empac.rpi.edu/about

    Maybe Boeing, General Atomics, and so forth didn't get the memo... This >> > was decades ago but when my brother worked for Boeing they would hire a
    fresh crop of engineers and fire most of them after evaluating their
    performance for a year. Chopping out deadwood probably is a lot harder
    in these kinder times. Unfortunately reality intrudes when you're
    dealing with missiles and aircraft.

    The performing arts make a lot of money, and they make it faster than you do if spends years developing a better hypersonic mouse-trap. That's probably the reality that is intruding here.

    Parenthetically, the CHGB (Common-Hypersonic Glide Body) is destined for the Zumwalt, another expensive design that doesn't work too well.

    Not all that surprising, since the weapons systems it was originally designed to lug around kept on getting cancelled.

    Boeing et al are run by the finance people. After all, the anthropic principle is a harsh mistress.

    Chopping out deadwood probably is a lot harder in these kinder times.

    And once the word got around, the new hires weren't going to be all that interested in taking a job fro,m which they'd probably be fired after the first year.
    The kind of over-confident twit who is convinced that they will end up as one of the favoured few doesn't make a great engineer.

    Engineering labor is a seller's market now. It's not out of kindness, either. It's all the billions sloshing towards Gomorrah... er, Silicon Valley.

    We're overdue for a nice bust, I think. No, not *that* kind of bust - an economic one.

    Economists - for all their perceived incompetence - have gotten a lot better at avoiding full-fledged depressions in recent decades.

    They may not know enough about the beast they are trying to be able use control theory to keep it pointed exactly in the right direction, but they do seem to know enough to keep going in more or less the right direction.

    --
    Bill Sloman, Sydney



    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Anthony William Sloman@21:1/5 to John Doe on Sat Jul 2 19:51:43 2022
    On Sunday, July 3, 2022 at 12:43:28 PM UTC+10, John Doe wrote:
    Anthony William Sloman <bill....@ieee.org> wrote:
    On Sunday, July 3, 2022 at 8:57:48 AM UTC+10, Les Cargill wrote:
    rbowman wrote:
    On 07/01/2022 06:12 PM, Les Cargill wrote:
    rbowman wrote:
    On 06/29/2022 08:17 PM, jla...@highlandsniptechnology.com wrote:
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward....@gmail.com> wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:

    <snip>

    We're overdue for a nice bust, I think. No, not *that* kind of bust - an economic one.

    Economists - for all their perceived incompetence - have gotten a lot better at avoiding full-fledged depressions in recent decades.

    They may not know enough about the beast they are trying to be able use control theory to keep it pointed exactly in the right direction, but they do seem to know enough to keep going in more or less the right direction.

    John Doe knows what he doesn't like, but he can't say why, so he posts abuse recycled from other threads (which I've snipped). It is a waste of bandwidth, but then again so is this.

    --
    Bill Sloman, Sydney

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Edward Hernandez@21:1/5 to All on Sun Jul 3 03:09:58 2022
    XPost: free.spam

    John Dope stated the following in message-id
    <svsh05$lbh$5@dont-email.me>
    (http://al.howardknight.net/?ID=164904625100) posted Fri, 4 Mar 2022
    08:01:09 -0000 (UTC):

    Compared to other regulars, Bozo contributes practically nothing
    except insults to this group.

    Yet, since Wed, 5 Jan 2022 04:10:38 -0000 (UTC) John Dope's post ratio
    to USENET (**) has been 67.3% of its posts contributing "nothing except insults" to USENET.

    ** Since Wed, 5 Jan 2022 04:10:38 -0000 (UTC) John Dope has posted at
    least 2565 articles to USENET. Of which 176 have been pure insults and
    1549 have been John Dope "troll format" postings.

    The Troll Doe stated the following in message-id
    <sdhn7c$pkp$4@dont-email.me>:

    The troll doesn't even know how to format a USENET post...

    And the Troll Doe stated the following in message-id <sg3kr7$qt5$1@dont-email.me>:

    The reason Bozo cannot figure out how to get Google to keep from
    breaking its lines in inappropriate places is because Bozo is
    CLUELESS...

    And yet, the clueless Troll Doe has itself posted yet another
    incorrectly formatted USENET posting on Sun, 3 Jul 2022 02:43:22 -0000
    (UTC) in message-id <t9qvoa$2rt8a$3@dont-email.me>.

    FHvQNtztlMeL

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Ricky@21:1/5 to rbowman on Sun Jul 3 14:14:14 2022
    On Wednesday, June 29, 2022 at 11:16:27 PM UTC-4, rbowman wrote:
    On 06/29/2022 08:17 PM, jla...@highlandsniptechnology.com wrote:
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward....@gmail.com> wrote:

    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    I doubt that he doesn't understand increased liquidity (pandemic or otherwise) drives inflation. But it's easier to say I didn't know than to say I lied to you.

    Or he doesn't understand basic economics.

    Considering about 400 Ph.D economists work for the Fed you'd think one
    or two would have some grasp.

    You know better?

    --

    Rick C.

    - Get 1,000 miles of free Supercharging
    - Tesla referral code - https://ts.la/richard11209

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Ricky@21:1/5 to bill....@ieee.org on Sun Jul 3 14:17:25 2022
    On Friday, July 1, 2022 at 8:26:59 PM UTC-4, bill....@ieee.org wrote:
    On Saturday, July 2, 2022 at 10:19:21 AM UTC+10, John Larkin wrote:
    On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com>
    wrote:
    Ed Lee wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote:
    https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/


    I doubt that he doesn't understand increased liquidity (pandemic or
    otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.


    Yeah, but *when*? Variable lags will kill your ability to predict things.

    If people don't understand control theory.
    The economy is a complex non-linear system. Control theory works for linear systems, or systems you can linearise. Real systems tend to stop looking linear or linearisable when they hit the rails. John Larkin seems to think that economists ought to be
    able to do as well at controlling a really complex system as he can do on much simpler systems, so the failure of understanding is all his.

    One thing I know, is the only thing more pointless than reading Larkin's imaginings, is responding to his posts on his imaginings.

    Sometimes this group is such a sad place to visit. Or maybe pathetic is a better word.

    --

    Rick C.

    + Get 1,000 miles of free Supercharging
    + Tesla referral code - https://ts.la/richard11209

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Anthony William Sloman@21:1/5 to Ricky on Sun Jul 3 17:52:28 2022
    On Monday, July 4, 2022 at 7:17:27 AM UTC+10, Ricky wrote:
    On Friday, July 1, 2022 at 8:26:59 PM UTC-4, bill....@ieee.org wrote:
    On Saturday, July 2, 2022 at 10:19:21 AM UTC+10, John Larkin wrote:
    On Fri, 1 Jul 2022 19:11:15 -0500, Les Cargill <lcar...@gmail.com> wrote:
    Ed Lee wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John Larkin wrote: >>> https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

    I doubt that he doesn't understand increased liquidity (pandemic or >> otherwise) drives inflation. But it's easier to say I didn't know
    than to say I lied to you.

    Yeah, but *when*? Variable lags will kill your ability to predict things.

    If people don't understand control theory.

    The economy is a complex non-linear system. Control theory works for linear systems, or systems you can linearise. Real systems tend to stop looking linear or linearisable when they hit the rails. John Larkin seems to think that economists ought to
    be able to do as well at controlling a really complex system as he can do on much simpler systems, so the failure of understanding is all his.

    One thing I know, is the only thing more pointless than reading Larkin's imaginings, is responding to his posts on his imaginings.

    He doesn't read them - his vanity prevents him from exposing himself to the idea that he could ever get anything wrong.
    Pointing out that he is wrong is probably constructive.

    Sometimes this group is such a sad place to visit. Or maybe pathetic is a better word.

    It has it's moments - though not all that many of them. If you know a better venue do tell us where we ought to be posting.

    --
    Bill Sloman, Sydney

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From DecadentLinuxUserNumeroUno@decadenc@21:1/5 to Anthony William Sloman on Mon Jul 4 12:37:48 2022
    Anthony William Sloman <bill.sloman@ieee.org> wrote in news:cdab85e7-71cb-4302-a67f-3156902ba877n@googlegroups.com:

    On Sunday, July 3, 2022 at 12:43:28 PM UTC+10, John Dope wrote:
    Anthony William Sloman <bill....@ieee.org> wrote:
    On Sunday, July 3, 2022 at 8:57:48 AM UTC+10, Les Cargill
    wrote:
    rbowman wrote:
    On 07/01/2022 06:12 PM, Les Cargill wrote:
    rbowman wrote:
    On 06/29/2022 08:17 PM, jla...@highlandsniptechnology.com
    wrote:
    On Wed, 29 Jun 2022 18:39:44 -0700 (PDT), Ed Lee
    <edward....@gmail.com> wrote:
    On Wednesday, June 29, 2022 at 5:50:55 PM UTC-7, John
    Larkin wrote:

    <snip>

    We're overdue for a nice bust, I think. No, not *that* kind of
    bust - an economic one.

    Economists - for all their perceived incompetence - have gotten
    a lot better at avoiding full-fledged depressions in recent
    decades.

    They may not know enough about the beast they are trying to be
    able use control theory to keep it pointed exactly in the right
    direction, but they do seem to know enough to keep going in
    more or less the right direction.

    John Dope knows what he doesn't like, but he can't say why, so he
    posts abuse recycled from other threads (which I've snipped). It
    is a waste of bandwidth, but then again so is this.


    John Dope could not pose a reasonable argument about ANYTHING if
    his pathetic, Trump Cult bent brain life depended on it.

    After all, we are talking about a dopey dipshit trying to power a
    bicycle with his lard ass on it, using a battery powered drill motor.

    He wastes time here, just like he wastes time in his garage.
    Essentially, John Dope (aka Jake Isks) is a waste of oxygen.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)