Millennial Macro

Kocherlakota , President of the Federal Reserve Bank of Minneapolis: "The job market is, finally, on a highly desirable upward trajectory," he said. "We are more likely to continue on that welcome trajectory if the (Federal Open Market Committee) does not tighten monetary policy in 2015."

“Correlations, sigma along with a host of other risk metrics all assume historical data is predictive. If that were true the French would still be sitting safely behind the Maginot Line.”  - Richard Weissman

Imagine a bus where individuals are seated in a way that infers their perceived social value.  The closer an individual is seated to the front of the bus, the greater their perceived status, reputation, and moral standing.  Given this, the front rows are the most luxurious, safe, and accommodative positions whereas the back rows are quite the opposite.  The further back one is seated the more deplorable the conditions.

A response to the following two Bank of England videos:   Money in the modern economy: an introduction - Quarterly Bulletin article Money creation in the modern economy - Quarterly Bulletin article