#4: Bill Fleckenstein on Central Banks, Financial Bubbles and White Burgundy
Superinvestors and the Art of Worldly Wisdom
The Taylor Rule and the Portfolio Balance Channel
On the one extreme where things are anchored, you have the gold standard. On the other extreme, you have what we have today, where they pick a rate and make up whatever they need to do to change the rules. They want more inflation, except they specifically have built an index in America called the CPI which almost cannot register inflation no matter how it's constructed. And I still to this day don't see why people don't talk about the fact that the CPI is complete garbage in terms of an index.
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