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01-13-2010, 11:36 PM #1
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Fed Publishing Mathematical Gibberish to Hide Balance Sheet
Fed Publishing Mathematical Gibberish to Hide Balance Sheet Secrets
Politics / Central Banks Jan 13, 2010 - 11:17 AM
By: Mike_Shedlock
The Fed is pulling out all stops to defend its secrets, including publishing self-serving mathematical gibberish. Please consider the St. Louis Fed article on the Social Cost of Transparency. http://research.stlouisfed.org/wp/2010/2010-001.pdf
Unless you are an academic wonk, you will be stymied by pages that look like this ...
There are 24 pages of such nonsense with titles like
* 2.2 Private Information and Full Commitment
* 2.3 Private Information and Limited Commitment
* 3.2.1 Decision Making in the Day
* 3.2.2 Decision Making at Night
* 3.2.4 A No-News Economy
Just for good measure here is the page describing 3.2.4 A No-News Economy
The article culminates with ...
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