Best Santelli Rant in a while..

No more questions, your Honor...

I was just trying to get to the point where I can explain how I think of these things, if you care.

 

The proof is in the pudding. Human societies have found the use of central banks to be useful. For a lot of reasons.

List of central banks:
http://en.wikipedia.org/wiki/List_of_central_banks
Not too many (lol) countries without one.

History of central banks:
https://en.wikipedia.org/wiki/Central_bank#History

All this preponderance, both in number and longevity, does not necessarily mean that we wouldn't be better off without a central bank, but that is the way to bet.

 

Sure, I care. I just can't answer questions that are "make a guess based on a hypothesis supported by a theory."

 

And how many of those have a dual mandate, Ricter?

 

Do you care about that? You said the Fed should be "done away with".

 

Ole'! The answer is: The Fed and only the Fed.

Of course I care about it. If the central bank were more concerned with it's inflation mandate, I might see more value in it.

 

Santelli is backpedaling, claiming he formerly meant soaring "volatility", not inflation, which is an implicit admission that inflation is not high presently. Your beef with the Fed, then, is that under current conditions (employment) their inflation target is too low? I agree. ; )

 

Back to trolling, ok. Carry on.

 

No, I have you backed into a corner. Is inflation high today, or not?

 

You haven't backed anybody into a corner since you tried to force that circus midget to give you a blow job. :eek: