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Linus Wilson

 
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  • Central Bank 'Wealth Effects' Doctrine At Work: Meet The $550K 'Crap Shack' In Culver City, CA [View article]
    Another great post Mr. Stockman!
    Nov 27, 2014. 01:40 PM | 3 Likes Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    L Kramer, if you think a year with 14-19% unemployment is comparable to a year with 6.3% unemployment on average is the anecdotal evidence for non-stop money printing keep telling that to anyone who is listening.
    Nov 25, 2014. 09:58 AM | Likes Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    The spendthrifts in Congress and the White House need to stop running budget deficits every year in good times and bad. Printing money to reduce budget deficits is a recipe for hyperinflation. The Fed would never say that they are keeping rates low to reduce the budget deficit.
    Nov 25, 2014. 06:36 AM | Likes Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    @ Philip: The purpose of the Fed is not to subsidize the federal debt. That is what the Weimar Republic in inter-war German tried to do. It ended very badly.
    Nov 24, 2014. 08:43 PM | Likes Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    Salmo, does the Fed have ONLY 300 econ Ph.D.'s on its payroll? I bet the full-time Ph.D. dependents is much higher. If you add in all the "visiting scholars" or potential "visiting scholars" that tends to stifle dissent from economists...

    See http://bit.ly/1v65Tem
    Nov 24, 2014. 06:05 PM | Likes Like |Link to Comment
  • Deformations On The Dealer Lots: How The Fed's ZIRP Is Fueling The Next Subprime Bust [View article]
    Inflation is a tax on savings. The cheaper government borrowing in the short run is financed at the expense of savers.
    Nov 24, 2014. 02:58 PM | 1 Like Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    @ Philip M: I believe the private sector can better use the money than our disfunctional federal government. Stealing from savers to fund Uncle Sam is what people refer to as "economic repression." Plus, it fuels asset bubbles as savers must move into riskier assets to keep up with inflation. Even Keynesians don't advocate deficit spending when the economy is at full employment. As I said, 5.8% is better than average for the U.S. economy.
    Nov 24, 2014. 12:50 PM | 2 Likes Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    Yes, core inflation will pick up in the next twelve months even if rates are raised.
    Nov 24, 2014. 12:45 PM | 1 Like Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    1937 is one (irrelevant) data point. See http://seekingalpha.co...
    I use 4 quarters X 56 years = 200+ quarter-years of data on inflation, potential output, real output, and effective Fed funds rates in my study at http://bit.ly/1uZQT1q
    Nov 24, 2014. 09:11 AM | Likes Like |Link to Comment
  • Deformations On The Dealer Lots: How The Fed's ZIRP Is Fueling The Next Subprime Bust [View article]
    Inflation is a bad. You are right, untrusting investor! Everybody not working for Janet Yellen knows that. Wall Street and Washington want to tax your wages and assets with their unjustified ZIRP.
    Nov 24, 2014. 07:16 AM | 1 Like Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    So you are saying "this time its different." History does not apply. Those are pretty dangerous words for an investor. As for the bond market being always right, I recall subprime option-ARM paper was rated AAA in 2003-2007 and in 2008 it was junk in default. There was also time where Greek debt spreads over German bunds were measured in basis points not percent. The bond market blows up as much or more than the stock market.
    Nov 24, 2014. 06:59 AM | 1 Like Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    P Frog, Taylor rule says Fed funds interest rates should be 1.9% right now. Yellen Fed has interest rates at 0.1%. Economists use data to make decisions. The data in my paper at http://bit.ly/1uZQT1q says Yellen Fed is way too dovish.
    Nov 23, 2014. 09:04 PM | 1 Like Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    Salmo, you are right macro variables are backward looking. That is more reason to believe the Fed is behind the curve. Yellen would be more hawkish if she were a Keynesian. Keynesians believe there is a trade off between inflation and unemployment. The Yellen Fed sets interest rates as if there is no trade off. The Yellen Fed is trying to reduce unemployment with easy money as if there was no cost in terms of higher inflation.
    Nov 23, 2014. 06:40 PM | Likes Like |Link to Comment
  • Yellen Leads The Most Dovish Fed In History [View article]
    The current rise in the value of the dollar is puny compared to the 1990s and 1980s rallies. The 1990s rise in the dollar coincided with a strong economy and a raging bull market. See http://seekingalpha.co...
    Nov 23, 2014. 04:24 PM | Likes Like |Link to Comment
  • Deformations On The Dealer Lots: How The Fed's ZIRP Is Fueling The Next Subprime Bust [View article]
    1.8% core inflation isn't deflation.
    Nov 21, 2014. 03:53 PM | 1 Like Like |Link to Comment
COMMENTS STATS
207 Comments
189 Likes