Wait until you hear about the ultimate fraud...Economists.
Look at the EU central bank and their rising on interest rates despite rising prices not proving rising demand....but they live by their model...
You get a war as external shock that makes oil scarcer while the economy is already contracting...so they hike rates, what will not create oil but crushes demand on top of a supply collapse...
I was in a pretty decent econ program big public university. The program and our professors at the time had close Wall Street ties due to proximity. Despite that, no professor took themselves very seriously and many would make constant cracks about the absurdity of the field and why would anyone listen to them. It was a totally cool department of self-aware smart people.
Betelbuddy · · focus · HN ↗
Look at the EU central bank and their rising on interest rates despite rising prices not proving rising demand....but they live by their model...
You get a war as external shock that makes oil scarcer while the economy is already contracting...so they hike rates, what will not create oil but crushes demand on top of a supply collapse...
snapetom · · focus · HN ↗