So just as I want pilots on the planes that I fly, when it comes to monetary policy, I want to think that there is someone with sound judgement at the controls.
Sentiment: NEGATIVE
There are limits to monetary policy.
Money is a mechanism for control.
I've shot a lot of pilots that have never seen the light of day, jobs that have fallen apart or gotten canceled, so I'm really weary about what contracts I sign and where I swear my loyalty to.
You have safety and soundness as primary purpose of the Federal Reserve, the OCC, and the other agencies which control banking regulation.
When I get on a plane, I don't want a laid-back pilot. I want a pilot who is a control freak, who is paying attention to every single detail of his job.
The intriguing aspect of food charges on airlines is that they create the perfect laboratory for any economist who wishes to study the question of how to price a good that possesses, by universal consensus, absolutely no objective value.
Humans have a proven track record in taking over planes by the use of threats, which work because the legitimate pilots value their own lives and those of their passengers.
Monetary policy ultimately must be conducted in a pragmatic manner that relies not on any particular indicator or model but, instead, reflects an ongoing assessment of a wide range of information in the context of our ever-evolving understanding of the economy.
Any debate among politicians about monetary policy is counterproductive.
Aviation is for the common man. My goal is to enable everyone to fly. It shouldn't be only for the rich.