The proof is this: the FED announced tapering has no links to interest rate decisions It affected market rates nevertheless. Why? Cause people are bayesians, when Ben said QE is becoming unnecessary bayesians rightly revised their whole expectations about the economy and FEDs reading of it. It is only natural.
Bye now, be back in september.
X, the founder
People are not genuine Bayesian. They look like herd instead, but thank God there are ones who can learn in a Bayesian way. The latter are the good economists and the former, the financists and others stupids.
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