Slashdot Mirror
Research Finds Link Between Inflation and Laughter In Federal Reserve Meetings
schliz writes "A one percentage point increase in an inflation forecast brings about a 75% rise in laughter, according to an American University PhD student, who studied transcripts of the Federal Open Market Committee at the Federal Reserve. Laughter usually comes in response to witticisms during a meeting at the time of the inflation forecast, and has been shown to be a mechanism for coping with the stress of a perceived threat."
I propose an alternate title to this story:
"An open invitation for cranky Slashdotters to complain about waste of taxpayer money -- despite it being non-governmental funded -- to study a topic I find ridiculous."
I am not a crackpot.
Nobody else gets to vote themselves a raise, create their own health plan, retirement, etc.
Um, that's pretty much how C-level executives work at large companies. They are nominally under the control of the board, who is nominally the elected representatives of the shareholders, but like with our elected political representatives, in practice they have quite a bit of unrestrained control over things like voting each other raises and approving golden-parachute contracts (formally on behalf of the shareholders who voted the board in, of course).
10 PRINT CHR$(205.5+RND(1)); : GOTO 10
The powerful don't want to see inflation, it makes their money worth less.,
Inflation makes everybody's money worth less. I visited Brazil during hyperinflation. It wasn't just the "powerful" suffering.
BTW, "the powerful" did fine in the US during the 1970s .../p?
Your tax bracket is suddenly 30% instead of 20%... oh wait, what? People always forget this amazing benefit (for the government) of inflation.
Seven puppies were harmed during the making of this post.
That is incorrect. Inflation is great for those who get to print it. The Fed and thus the banks are the ones that get first access to that money, and get to charge interest on it, interest that can mathematically be paid from no source except default. Default destroys resources. This monetary system thus forces destruction of resources through malinvestment.
Money is not wealth. Money is a CLAIM on wealth, which is composed of real things. Printing money does not create more wealth--it just dilutes it, and redistributes it to those who get first access to the printed money.