Relying On The Gods From The Machinery: The Weird and Disturbing Teleological Approach to Discussing Macro-Economics

It’s funny how, in the middle of a street fight, you can come across a diamond.

“Please, O Great God of the Golden Calf!
Please don’t take away my 401(k)!”

Last Monday, Rick Ackerman wrote a fairly fatuous deflationary rant which caught my eye, obliging me to respond on Tuesday with a dissection of Ackerman’s . . . “argument”.

Actually, I didn’t so much dissect it as give it an autopsy—the thing was dead on arrival.

Then on Wednesday, Ackerman started Round 2 of our little street fight, with a post titled “Here’s Why Hyperinflationist Lira Is Wrong”.

Well . . . how could I put it: Ackerman’s Monday piece at least had an argument—an invalid, unsound argument, as I think I pretty much showed. But at least Ackerman pretended to some semblance of rationality.

However, Ackerman’s Wednesday piece? Boy, where to begin—

—and here’s where I discovered my diamond:

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