Row 32197

Row ID: 32197 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 32197 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

> The market thinking that inflation projections are a linear equation is the problem. The lack of economic knowledge is what I'm insulting. Conditions did not change.

Can you help me to understand why you think "the market" believes "inflation projections are a linear equation", and where that idea comes from?

Cuz that's not a sentiment I've ever heard anyone in industry express.

> Pricing is behaving as expected. Inflation is always and everywhere a monetary phenomenon and inflation is rarely transitory.

Ahhh, he quotes Friedman. Pop culture's favorite author, the field's least influential thinker. Truth is research doesn't really support that much at all in the absolute sense. And most importantly specifically it's not supported in this case. It's the sort of definitive line that works well in lectures and in quotes spread around but the truth is reality is rarely this simple.

For instance even before Friedman's quote you had the famous Sargent paper describing how extended periods of outsized inflation are almost exclusively tied to losses in political faith. https://www.nber.org/system/files/chapters/c11452/c11452.pdf

You've got Mishkin's general outline on causes of inflation, with only one being monetary at times: https://www.kansascityfed.org/Jackson%20Hole/documents/3892/1984-S84MISHK.pdf

But also most specifically regarding your comment on monetary policy after the pandemic, all of the prevailing research suggests that post pandemic era inflation is almost entirely attributed to reverberations from massive prolonged supply shocks.

NBER: https://www.nber.org/system/files/working_papers/w31417/w31417.pdf

IMF: https://www.imf.org/-/media/Files/Publications/WP/2023/English/wpiea2023010-print-pdf.ashx

So I guess in conclusion, stop just making shit up and presenting it as fact? I don't know if some of y'all really understand that on matters of national economics we don't need to guess - people are studying these things and publishing their findings regularly.

FieldValue
text > The market thinking that inflation projections are a linear equation is the problem. The lack of economic knowledge is what I'm insulting. Conditions did not change. Can you help me to understand why you think "the market" believes "inflation projections are a linear equation", and where that idea comes from? Cuz that's not a sentiment I've ever heard anyone in industry express. > Pricing is behaving as expected. Inflation is always and everywhere a monetary phenomenon and inflation is r…
label r/investing
dataType comment
communityName r/investing
datetime 2024-05-21
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Raw Record

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  "text": "> The market thinking that inflation projections are a linear equation is the problem. The lack of economic knowledge is what I'm insulting. Conditions did not change. \n\nCan you help me to understand why you think \"the market\" believes \"inflation projections are a linear equation\", and where that idea comes from?  \n\nCuz that's not a sentiment I've ever heard anyone in industry express.\n\n> Pricing is behaving as expected. Inflation is always and everywhere a monetary phenomenon and inflation is rarely transitory.\n\nAhhh, he quotes Friedman.  Pop culture's favorite author, the field's least influential thinker.  Truth is research doesn't really support that much at all in the absolute sense.  And most importantly specifically it's not supported in this case.  It's the sort of definitive line that works well in lectures and in quotes spread around but the truth is reality is rarely this simple.    \n\nFor instance even before Friedman's quote you had the famous Sargent paper describing how extended periods of outsized inflation are almost exclusively tied to losses in political faith.  https://www.nber.org/system/files/chapters/c11452/c11452.pdf\n\nYou've got Mishkin's general outline on causes of inflation, with only one being monetary at times:  https://www.kansascityfed.org/Jackson%20Hole/documents/3892/1984-S84MISHK.pdf\n\nBut also most specifically regarding your comment on monetary policy after the pandemic, all of the prevailing research suggests that post pandemic era inflation is almost entirely attributed to reverberations from massive prolonged supply shocks. \n\nNBER: https://www.nber.org/system/files/working_papers/w31417/w31417.pdf\n\nIMF: https://www.imf.org/-/media/Files/Publications/WP/2023/English/wpiea2023010-print-pdf.ashx\n\nSo I guess in conclusion, stop just making shit up and presenting it as fact?  I don't know if some of y'all really understand that on matters of national economics we don't need to guess - people are studying these things and publishing their findings regularly.",
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