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 ...

For an asset economy then, the prescription of “full transparencyâ€