Re: MAI AI Made as instructed

Posted by cochise on March 31, 2008 at 17:03:36:

In Reply to: MAI AI Made as instructed posted by cochise on March 31, 2008 at 16:56:52:

Beauchamin misses the point in writing, "the Fed has been handed a neatly wrapped gift". The old joke about real estate appraisers is that they are MAI. Members of the Appraisal Institute? No, their work is made as instructed. How convenient for the Fed, to get a CPI statistic that gives it cover to reduce interest rates. This reminds me of somthing my favorite jurist, Oliver Wendell Holmes wrote. He wrote something to the effect that a judge decides which side he wants to win then starts searching the law and the facts to support his decision. That the notion of the disintersted jurist inpartially applying the law is nonsense. Similarly, Helicopter Ben needs a rationale to reduce interest rates, voila, the CPI shows up as unchanged.

• made as instructed mai

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• Re: MAI AI Made as instructed (url) - cochise 17:15:19 03/31/08 (0)

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