Conflict of interest with Bernanke?  Mishkin has always been a staunch Bush supporter they say.  Damn.  What an end to an illustrious career.

http://www.federalreserve.gov/newsevents/press/other/20080528a.htm

Press Release

how come its an end to an illustrious career???.....Mishkin was renowned before he joined the FED....and he will be rejoining columbia university....his career was always in academia and he had a two year stint in FED... i dont see parting way from a two year job with the FED as an end to illustrious career...

 

 

End to an illuistrious career in the sense of a career at the Fed...At the Fed he was a member of the Board negotiating on policies which WERE implemented.  Now, As a professor, the theroies he comes up with can be shut to himself as there are a thousand other smart economists out there (Baumol, Krugman, etc.)who bring forth theories which would never even make it into the hallways of the Fed Meetings. 

First of all I dont think Mishkin had an illustrious career at the FED. Few year down the line few will remember that he was even FED board remember. However many will remember him as a prominent economist. Your argument that his two year stint at NY Fed was illustrious lacks foundation compared to many other previous and current "illustrious" FED board members.

 

Regarding other economist I think the works of  Kydland and Prescott, Thomas Sargent, Robert Lucas, Rudy Manuelli, Ned Phelps, among others, shape the monetary policy work of the Federal reserve. Because of the cutting edge research of these "academic" people, the Federal reserve and othe central banks around the world benefit a lot.

Regarding Krugman, he won the Bates medal and he is due for Nobel prize few years down the line. I rank his works and advocacy higher than what Mishkin has done so far.

 

 

 

 

Twelveangry, I scoff at your porposal that just because someone wins the Bates Medal and is "en-route" to winning the Nobel, they are smarter or their works are greater than the Fed Governors.  hahahha   I've seen many a en'route Nobel winner these days that it just makes me wanna roll on the floor with exuberant delight!!  hahahahha  And Greenspan, won the Bates?  Oh, how about that lil medal called the Nobel?  hahaha  BTW, Greenspan had been heralded as the greatest economist this nation has ever had by a consensus of Wall Street illuminaries I read a few years ago (this was before the subprime mess). 

hahaha  Go back to sucking on your books for data, as the names above can't even compare to the Fed Board members!  And you say that their works shape the monetary policy of the Fed?  Are you crazy?  Look at the last 4 rate cuts so far and tell me if it was academia or if it was Wall Street whcih caused the Rate cuts?  That sums it all for your book knowledge...Remember, A lil knowledge IS dangerous!!

i think who has lil knowledge should be put to rest here...your arguments demonstrate who has little knowledge...i replied to your thread because you made a wrong statement..it should have been "an end to two year stint" and not "an end to illustrious career"...

regarding Geenspan, the less said the better because he is the sole reason for all the current mess...

just because you know who Mishin is and he resigned via the source of NYTimes dont try to act smart here in sajha....

and learn to acknowledge your mistakes...it will make u go much higher..

 

 

 

hahaha  After proving your arrogance wrong where you say that just because someone is "en-route" to winning a Nobel, their works are more higher than the Fed Governors, you still come back for more.  Hell son, evertime I'd attended Economics functions at the various ivies around the East Coast, its always an exuberant fact to see these malkins beings portrayed as the Next Winner!  hahahha  And here, you too?  Go back to getting your own words before even putting Krugman in that level.  I'd still say Krugman is an economist who should stick to being a journalist as he's known all over for mass-production and low-quality research which is often finished with finer details by others.  However, one quality possession he has is the ability to forsee events which other economists are slow to catch on...But his research abilities cannot in any light be compared to a Mundell or Stiglitz.

And Greenspan, was the alpha economist until a year and a half ago!  Krugman and all the other names you have up there still don't compare to the "fallen" Greenspan...Imagine when he was still the Fed Gov?  He was the premiere economist this nation had!  C'mon son, don't even compare him to the wannabes who are just smart on paper...Their theories would die dowm like the Classical Theory after the great Depression.  BTW, it proves how you're still stuck to your academia professor's words and books...Greenspan wasn't a Professor, but he darn knew more than those Academia jesters ever would.  Imagine if we'd have had a theory only preaching academic fool run the Fed during balck Monday in 1987?  Another Depression would've been in the making!

Now, go read about Fed Governors instead of trynna put these peeps down who're the reason we're enjoying the success of the economy so far...hahaah  And thank Wall Street too (not Academia)!!

Yeah, I don;t read the NY Times...Didn't even know they had this article.  I get it directly from the Federal Reserve...Thats how it is when you work for the BIG dawgs.  Maybe you too could register at the Fed's email add: webannouncements@federalreserve.gov

ivies....

big dawgs....

 i was wondering who is this guy called samsara who post abt all and sundry...i think i have found answer

you just crave for attention....and u lack in substance..big time...you made a wrong statement and dont even try to acknowledge it....i am not saying that Mishkin is not smart...nor i am saying that Greespan was bad...i was just saying that ur statement of Mishin having an illustrious career in Fed was wrong....i know that u know it from inside..u just feel embarass to accept it...

i think ur better off in some country club of hamptons than over here..and yes congratuations on attending those economic functions in ivies.... i dont think u learnt anything though..

tweleveangry, if you're saying that meeting "en-route" Nobel winners at Economic Events make you learn something, then just shows what type of a fool you are.  I meet these peeps and just walk away from their convos as it is NOT the wannabes but the proven cats who entice me to a conversation.  Had a great conversation with Mundell back in 2003 about the Euro and the heading of the US$...Back then he mesmerized me, but today in hindsight, I feel ANYONE would've known that!  He was totally wrong in his analyais (and he won the Nobel based on his works with the forming of the Euro).  C'mon, you lil jester, learn on your own...Hangin out with these peeps ain't gonna teach you jack!  Imagine what would've happened to John Nash if he had attended his classes that he ALWAYS skipped at Princeton?  Where would've the radical theory of optimization (the foundation for Game Theory) come outta?  The movie would've been called An Ugly Mind instead.  hahaha  Son, its time I taught you that you learn lessons on your own and not by hanging out with "en-route" wannabes. 

Now, go run and try to unleash in your mind the aesthetic and symbolic messages preached to you by the Samsara today on this thread! 

you are the biggest loser i have ever come across....its simple you were wrong...accept it buddy and dont try to digress abt u meeting mundell et.al. and try to project that you are "important"..

Now lil shitfugcks like twelvemonkey wanna resort to calling names, damn beslubbering rant-raving lunatic?  Argue it out like how we BIG dogs do instead of coming to bite my azz when I ain't looking.  Where do we get these midgets from who want to argue on a topic but once their ammunition runs out they resort to acting as though they were right all along?  Go shave that hair up yo azz as atleast that'd keep you busy for a few more hours instead of making a fool of yourself here, shit-head!!

Also, Come back with your other pseudonym...The one that I've been breaking apart every time we meet here, foolio.  Know that the Samsara is omnipresent, you lil dwarf!!

Twelvemonkey, you watched CNBC today and saw how 10Y Treasuries are barging through the roof?  This is not good as it indicates inflationary pressure coming through now.  Why?  Better than expected GDP #s, High oil and commodity prices, economic data relesases all suck BIG time AND MISHKIN Resigns!  For you to say that this guy's career wsa not illustrious is a damn joke!  Wall Street cheered for this guy as he was the main proponent of ALL the recent rate cuts and he even demanded for more when the other Govs just wanted the market to correct itself slowly...What dumbfugcks!  Hell, on the Street, Mishkin's resignation has not gone too well as he was their adversary and champion!  Now tell me that this guy sucked at the Fed, would ya, ya lil jester?

Twelveagnry: It does not matter what is your logic and even you are 105% correct but you can not be correct in the eye of this thread creator. If this fellow says "cow" to a monkey , it is a monkey and should be a monkey. He knows every thing and he is ASTABAKRA ( The learned guy in epic or the ABHIMANU).

Twelveangry and rest , if you see a thread by this folk and do not agree, do not try to correct him or leave any opinion. He is not worth of it and in return you will start getting name calling. Just he did it and will do until his  last breath. Not worth of sharing opinon with this fella.

Damn econmomists....that's why i hate them....

all they do is wait until something changes abruptly and then propose a theory around that saying "see, i told you that was coming"

I have more respect to all those wall-street brokers who risk their everything and shoot for their luck...as somebody prominent has said: a baboon can perform as good as Bernanke...haha

 

Kalia, thats what forecasters do, ain't it?  You see weather-men do the same, You even see engineers forecast the life-span of a cerain bridge they built or doctors forecast the life-span of cancer patients in their last stages...And hell, they do get their estimates wrong too.  With weathermen, what about all those ice-storms and rains that have missed NYC completely when we watch on TV the night before about the impending doom coming our way?  What about the engineers who said the Brooklyn Bridge would last for 30 years after completion...Its 130 years old now and still shows no sign of coming down!  How about the docs who said to Lance Armstrong, a cancer patient that his bike-racing career is over and should be happy just to survive the treatment...But yet he won the Tour de France 7 times after that? 

Every field has guesswork and estimates involved in it and economics is just the same.  If definite answers through definte proof were present we'd be in a perios of continuous uptrend in the Business Cycle or a constant Bublle that never bursts.  In dismal scientist talks, we'd have achieved the Holy Trinity.  The Holy Trinity = Low Unemployment, Low Inflation, High Economic Growth. 

Listen, Man may step foot on Mars someday, but even then the Holy Trinity will still not be achieved.

Oye BATHO samsara, engineering forecast ra guessing forecast ma dherai difference cha, ja gayera pahile paad, dimag ma kehi sadharan gyan haal ani aayera kura gaar.

Ani ta afulai jahiley pani khub BATHO banchas haina, LAA tero lai aauta tukka..


Lato ladcha ek bldhyang, Batho ladcha tin bldhyang

bored, bhalu ko baan, engineering ko kura garchas, muji hijara ko poi.  Where do these assfugcks with gerbils teid to their backs come outta?  Run along damn dyke fugcking malkin.  You don't want your illegetimate dad Samsara taking care of business with your backside now, do you?  hahaha  Mothafugckin wanker!!

Listen, once fine day when the Samsara retunrs to nepal and becomes its Prez, then lil midget commie supporting dumbfugcks like you would be banished naked into the Thorongla Pass...Would love to see ya'll freeze ya azz out, damn idle-headed scullion!!

Samsara, when did i said that Mishkin sucked....i said that your statement that Miskin had an illustrious career at the FED was wrong statement...first of all his career was not at the FED...he was into academia and he took leave of absence from columbia to be a FED governor...2 year stint at the FED hardly counts as a career...so first learn to write sensibly before mocking at others like u do in this and other thread..Your statement will always be wrong no matter what you say...

we can debate about economics, abt wall street, abt this that....at the end of the day bottom line counts... After LTCM no one thought that there will be another one like that...Bear stears happened...its because of the FED..they are creating the moral hazard problem....nothing is predictable, we merely use tools, models and data to try to predict it...regarding ur holy trinity....so what...see the consequences of it now ...

 

 

 

"You even see engineers forecast the life-span of a cerain bridge they built or doctors forecast the life-span of cancer patients in their last stages...And hell, they do get their estimates wrong too. "

wht the fnck was dat. dude when did u become doctor, engineer all at a time(the way u said made me think so). listen wannabe-smarty-dumbass, engineers forecast the life span based on the mechanical properties (u ll have to read a lot of books to get tht) of the materials used and design. so the forecast time is the time tht is safe for the bridge to use. the bridge can still stand but it is always prone to accident. so ther is nothin like engineers are wrong.
lil thought on ur arrogant mind.................