Pur Autre Vie

I'm not wrong, I'm just an asshole

Friday, January 13, 2012

Rates of Change

Matt Yglesias works to bolster his detractors and undermine his defenders by failing to recognize the difference between prices and inflation. Yglesias quotes Richmond Federal Reserve Bank President Jeffrey Lacker saying that the Fed's job is to "keep inflation low and stable." In fact, Yglesias notes, the mandate is (per a FAQ on the Fed's website): "maximum employment and stable prices." Yglesias concludes that inflation should be steady, not necessarily low.

Okay, but. Inflation is a rate of change. If prices are to be steady, then inflation will need to be pretty low. One would not consider prices to be steady if they were increasing at a 1,000% annual rate, though inflation could be very steady in those circumstances.

Just . . . sigh.

4 Comments:

Blogger ninest123 said...

nike outlet, louis vuitton, ugg boots, chanel handbags, replica watches, kate spade outlet, longchamp, longchamp outlet, oakley sunglasses, oakley sunglasses, cheap oakley sunglasses, michael kors, polo ralph lauren outlet, louboutin outlet, prada handbags, ray ban sunglasses, louboutin, longchamp pas cher, tiffany and co, nike free, air max, louboutin shoes, christian louboutin outlet, polo ralph lauren outlet, ray ban sunglasses, louboutin pas cher, sac longchamp, louis vuitton outlet, oakley sunglasses, ray ban sunglasses, tiffany jewelry, jordan shoes, air jordan pas cher, gucci outlet, nike free, tory burch outlet, louis vuitton outlet, ugg boots, nike roshe run, nike air max, nike air max, uggs on sale, louis vuitton, burberry, ralph lauren pas cher, replica watches, longchamp outlet, louis vuitton, prada outlet, oakley sunglasses

7:57 PM  
Blogger ninest123 said...

michael kors, coach outlet, michael kors, coach outlet, sac guess, nike air max, ralph lauren uk, hermes, burberry, north face, north face, michael kors outlet, hollister pas cher, hollister, replica handbags, vans pas cher, true religion jeans, ray ban uk, michael kors, tn pas cher, lacoste pas cher, hogan, nike free run uk, nike blazer, converse pas cher, oakley pas cher, ugg boots, true religion jeans, burberry outlet online, true religion outlet, nike roshe, michael kors, timberland, air force, vanessa bruno, mulberry, nike air max, new balance pas cher, ray ban pas cher, michael kors outlet, michael kors outlet, true religion jeans, ugg boots, kate spade handbags, coach purses, michael kors outlet, nike air max, michael kors outlet, abercrombie and fitch, lululemon

8:09 PM  
Blogger ninest123 said...

ferragamo shoes, north face outlet, asics running shoes, babyliss, converse outlet, abercrombie and fitch, reebok shoes, p90x workout, ghd, timberland boots, oakley, nike air max, mcm handbags, ray ban, giuseppe zanotti, beats by dre, louboutin, wedding dresses, celine handbags, mont blanc, hollister, jimmy choo shoes, nfl jerseys, new balance, baseball bats, vans, ralph lauren, gucci, soccer jerseys, iphone cases, chi flat iron, hollister, nike air max, nike trainers, insanity workout, instyler, soccer shoes, nike roshe, lululemon, longchamp, nike huarache, herve leger, birkin bag, valentino shoes, converse, mac cosmetics, vans shoes, bottega veneta, north face outlet, hollister

8:20 PM  
Blogger ninest123 said...

links of london, louis vuitton, moncler, moncler, swarovski, swarovski crystal, juicy couture outlet, barbour, hollister, bottes ugg, louis vuitton, sac louis vuitton pas cher, pandora jewelry, karen millen, toms shoes, coach outlet, thomas sabo, ugg boots uk, moncler, lancel, ugg,uggs,uggs canada, moncler, ugg pas cher, canada goose outlet, juicy couture outlet, ugg,ugg australia,ugg italia, louis vuitton, moncler outlet, canada goose, canada goose, canada goose uk, montre pas cher, canada goose outlet, moncler, pandora jewelry, moncler, canada goose, louis vuitton, wedding dresses, doudoune canada goose, pandora charms, supra shoes, barbour jackets, marc jacobs, moncler, canada goose, replica watches, pandora charms

8:28 PM  

Post a Comment

<< Home