Dunning-Kruegerrands, and Dunning-Kruegerranderss: Paul Krugman: "Both Ferguson and Taylor signed the infamous letter declaring that Bernanke's policies would produce runaway inflation. Ferguson also, also infamously, fell for bogus claims that inflation was really much higher than reported. You might think that such experiences would make people wonder, at least a bit, about whether they understood monetary economics as well as they thought they did. (Yes, I've made mistakes—and promptly owned up to them. They haven't.) But no. I'm on record as saying that crypto is a mishmash of technobabble and libertarian derp. But I guess that I should add that it's also a giant draw for sufferers from Dunning-Kruger syndrome...
#noted
