LOL. good video.

Yet the same people are still not listening. Schiff did get some timing wrong, so his distractors can pick these specifics and still ridicule him. He thought interest rates would rise long before now, and for several years he was wrong. The Fed has been able to keep the game going a lot longer than he and a lot of others including myself myself as far as low interest rates go. I think he will eventually be proven right, if that is not already starting to play out.

What bewilders me is the models that the Fed have been using have been horribly wrong and inaccurate. All their predictions have failed miserably. Yet instead of stand back and taking a hard look at their methodology, they just figure they have to tweak their models a little here or there and they will be better next time. And the bigger insanity than that is, people actually believe them. It looks like all credibility would be already gone, yet the lemmings march on. No alternatives are considered.

I do have to give the Fed credit. They do invite in guys like Jim Grant and a number of Fed distractors. They give them a platform to give a talk. Not too many of the Fed officials show up, but some do. Then they summarily dismiss all the good ideas brought forth and go back to their flawed models. So I have to give them credit that at least they provide for alternative views. They don't do anything with them or try to find out why those people were right when they were wrong, but I guess for appearances they at least have a listening forum. It is not like they have not been told where their problems lie.

It bewilders me. For all the academic intelligence, how they can be so blind and so determined to keep doing things that have been shown to not work.

John