Friday, February 12, 2010

Inflation Targeting Madness and Economically Illiterate Fools at the IMF

You have to hand it to Keynesian fools, no matter how badly their ideas work out in practice, their theory is always the same, only more.

IMF chief economist Olivier Blanchard is the latest to prove he is an economically illiterate fool. Please consider IMF floats plan to raise inflation targets. http://www.ft.com/cms/s/0/f9f4067e-1758 ... ab49a.html

A staff paper co-authored by Olivier Blanchard, IMF chief economist, says the financial and economic crisis has “exposed flaws in the pre-crisis policy frameworkâ€