The Economic Goon Show

If you ever wanted clear evidence that economics is not a science, simply read the news this morning:

In the US, after 7 years of ZIRP and QE, the expected December rate hike is supposed to push up inflation and confirm the economy is improving; it is naturally bullish for stocks.
In Europe, a year and a half of NIRP and a year of QE, an imminent rate cut further into negative territory is supposed to push up inflation and confirm the economy is improving; it is naturally bullish for stocks.

With apologies to Spike Milligan. “When Alice spoke, her words would appear as a series of meaningless squiggles. Her tribe lives on Goon Island and the Goons are indistinguishable from each other.”

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