20 January 2016

Make Up Your Minds Economists

Either high energy prices are bad, therefore low energy prices are good.

OR

Low energy prices are bad, therefore high energy prices are good.

Pick one, stick with it.

But if the price of energy is an indicator of something else, talk about the something else and use energy prices as your proof of it.

Same thing goes for inflation.  You've been saying that inflation, deflation and stagnation are all equally bad indicators for such a long time I've moved those terms meaning into "noise economists make to sound like they know something when they don't have a clue."

The value of my dollar changing being good or bad is situational.  I like inflation when I consider money I owe.  Every time the dollar inflates, what I owe on my mortgage and student loans gets smaller.  I dislike inflation when it comes time to buy essentials with no elasticity in demand, then I have to spend more money to get the same thing.  I'd be thrilled if the value of my dollar stayed put, because then I could be confident of making long term strategies.

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