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Bottom line: When discussion of monetary policy is at its highest pitch, there is often less cause for concern than when almost no one it talking about it. When the big players miss there marks…its the Fed’s Fault when they do hit there marks…no mention of the Fed!
Yes, he will keep hiking but will probably wait until the second half of 2019! Volcker tackled the “Great Inflation” and Powell is tackling the “Asset-Economy.” The sky is not falling folks! Know thyself First! Ben has stated several times he is by nature a “Contrarian-Bear,” so that is his starting point of realizing his emotional state…how bout you? Don’t become a Zombie…know the difference between recession and slowdown…either way, it does look like a cyclical down trend. But what you see can be deceiving…Bogle new this! What a smart guy! To a better place…
“Since the liquidity trap is gone, and inflation remains well under control, the liquidity trap does not seem to be the reason why inflation did not explode post-2008, following the Fed’s stabilization measures.
No one is admitting this simple reality, which is staring us in the face.”
—Tyler Cohen, Aug18
I notice the narrative around Facebook seems to have swung very hard negative recently. Like the story yesterday about 10-year old profile pictures and whether they’re used to train creepy AI age extrapolation algorithms. I wonder if any if these just missed the cut?
AI doesn’t require the ability to learn. In the most extreme case, all intelligent behavior in the machine could be directly hard-coded into it by a programmer. The machine can still conform to the definition of AI as long as the preset algorithm allows it to achieve its objective. Many current-day AI systems are actually of this rule-based systems type, where engineers supply all the intelligence to the system…it has a long way to go! But it makes a great buzzword!
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