by MN Gordon
David Stockman’s Contra Corner
“The Phillips Curve is alive,” said Fed Chair Janet Yellen at Wednesday’s post FOMC meeting press conference.
We’ll offer some remarks on this in just a moment, including why Yellen is toast. But first we must put her utterances into proper context.
This week, at a business meeting, we experienced the full veracity of Brandolini’s Law. If you happen to be ignorant of Brandolini’s Law, we must apologize. For we must forever end your bliss.
Brandolini’s Law, or the BS Asymmetry Principle, as formulated by Italian programmer Alberto Brandolini, says: “The amount of energy needed to refute BS is an order of magnitude bigger than to produce it.”