4 ms·
It's the latter, of course. Because if these numbers were actually correct, the market would have figured that out by now, and it would be reflected in the leve
by this_user 5y ago
It's the latter, of course. Because if these numbers were actually correct, the market would have figured that out by now, and it would be reflected in the level of interest rates. Yet, it is not. So either people are losing money by lending at rates that are well below the level of inflation, and everyone is too stupid to have noticed that over the last 30 years or this article is nonsense.
- ljhsiung 5y agoTwo economists are walking down the street. One sees a $100 bill on the ground and says, "Hey, isn't that a $100 bill?" The other laughs-- "Of course not. If it was, someone else would have taken it by now." While I agree with you in this specific case, this joke always pops into my head whenever "efficient markets" are brought up.
- deleted 5y ago[deleted]