Startling Unpublished Keynes Equations Discovered

 

 Startling Unpublished Keynes Equations Discovered 

Startling Unpublished Keynes Equations Discovered

LONDON | Friday Sep 30, 2011 3:26pm EDT

(Routers) – A remarkable discovery reveals equations that economists say could end the business cycle - forever.
Ian Macallum, spokesman for the Royal & Ancient Historical Society of London, told Routers that the equations were contained in an unpublished manuscript which was found in the attic of an 18th century flat in Soho.
"We were skeptical when initially contacted by the current owners” said Macallum. “There is no record of Keynes ever having resided at that address.  But we can confirm that the manuscript is indeed an original work of Lord Keynes."
The formulas seem to have been derived from the Navier-Stokes equations which describe the motion of fluid substances.
“It’s pure Keynesian genius” said former Fed Governor Fred Mishkin.  “There is a strong consensus among economists, at least within the Federal Reserve, that liquidity is the answer to the age-old question ‘what is the meaning of life?’”   So, it makes perfect sense that someone as brilliant as Keynes would adapt these equations to a framework for fiscal and monetary policy.”
Although very technical in original form, Moody’s Chief Economist Mark Zandi said the final derivation of the equations can be simplified to the following:

“Unless you’re a PhD economist, I think it’s impossible to appreciate the elegance of the final derivation: by raising every stimulus factor to the power of infinity, you immediately move the probability of future recessions to zero.  It’s brilliant.  The notion that ‘risk’ is a necessary component of free market capitalism will finally be discredited.”
Federal Reserve Chairman Ben Bernanke was equally sanguine.  “I’ve asked some of my fellow academics at CERN to begin modeling the equations with an array of neutrinos, mixed with a small amount of unconventional policy.  Even without the helicopter, it should be theoretically possible to achieve an economic growth rate faster than the speed of light.  Einstein was a monetarist, so I’ve always been skeptical of his Special Theory.  It is now painfully obvious that he should have raised ‘c’ to the power of infinity, not 2.”
“I’m still trying to catch my breath!” exclaimed Nobel Prize winning economist Paul Krugman.  “Literally, when I read the equations, I felt a chill down my spine and a tingle in my balls.  We can finally end the partisan bickering and get the global economy back on track.”
(Reporting by Linda Green of Routers News)

For Fun Times let's twist again... With Chubby and Benny Bernaskster..Hilarious expose on the coming twistathon Benny style..

http://mises.org/daily/5688/Twist-Again


For Fun Times let's twist again... With Chubby and Benny Bernaskster..

The end is so funny.. lol well atleast in this paper not in real life it won't be funny at all but hey let's just twist and shout ;-)

Martin, of course, was virtually unknown in the popular mind, thanks in part to a large establishmentarian media characterized by three television networks. Bernanke, in contrast, has to deal with the fact that even MSNBC was so underwhelmed by his Twist that it decided to discuss it with Chubby Checker himself.
"The Twist has always meant money for everybody," the 69-year old gushed to his hosts, presumably referring to the song, not the Fed policy tool. If not, then Checker's confusion of money with real wealth suggests he has more in common with central bankers than he realizes.

 Christopher Westley is an adjunct scholar at the Ludwig von Mises Institute. He teaches in the College of Commerce and Business Administration at Jacksonville State University

Obama throws America under the bus (again) “This is a great great country that had gotten a little soft and we didn’t have that same competitive edge

http://blogs.wsj.com/washwire/2011/09/29/obama-u-s-has-become-a-little-soft/?mod=WSJ_elections_article_liveupdate

“This is a great great country that had gotten a little soft and we didn’t have that same competitive edge that we needed over the last couple of decades,” Mr. Obama said

Despite his concern, Mr. Obama said he wouldn’t trade positions with any country on Earth. “We still have the best universities, the best scientists, best workers in the world; the most dynamic economic system in the world,” he said. “We just need to bring all those things together.”    Hahahaha and he's just the guy to do it too .. hahaha bring us all together..... hahaha

Fed Outta Bullets , now turns and Blames Congress for not doing more..

 We've talked about this before, the fact that Ben Bernanke is growing increasingly vocal about his skepticism that monetary policy can do much to save this economy.
This is a HUGE change from someone who once said that the Great Depression was entirely the Fed's fault, and that the Fed would never let that happen again!
This was the famous line from the speech he gave at Milton Friedman's 90th birthday party:

Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.

In his daily note, Art Cashin caught a key bit from a Ben Bernanke Q&A last night after he gave a speech, further emphasizing that Bernanke has radically changed his views.
——————————
A Plaintive Plea From Mr. B? - Chairman Bernanke spoke in Cleveland at 5:00 (EDT) last night. The speech was interesting but it was the Q&A that produced the stir. Here’s a bit from an AP report on the event.

WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke said Wednesday that long-term unemployment is an American "national crisis" and suggested that Congress should take further action to combat it. He also said lawmakers should provide more help to the battered housing industry.

Bernanke noted that about 45 percent of the unemployed have been out of work for at least six months.

"This is unheard of," he said in a question-and-answer session after a speech in Cleveland. "This has never happened in the post-war period in the United States. They are losing the skills they had, they are losing their connections, their attachment to the labor force."

He added: "The unemployment situation we have, the job situation, is really a national crisis."
Bernanke said the government needs to provide support to help the long-term unemployed retrain for jobs and find work. And he suggested that Congress should take more responsibility.

There was even a line that might be seen as a cross between “I’ve done my job” and “we’re plumb out of bullets”.

"Monetary policy can do a lot, but monetary policy is not a panacea," Bernanke said.

Read more: http://www.businessinsider.com/bernanke-is-skeptical-about-monetary-policy-again-2011-9#ixzz1ZOZ7zkAw