After decades of market liberalism and fiscal fundamentalism, policymakers are returning to Keynes.  Jeff Snider reacts to two recent articles: "Bond yields are not good predictors of inflation" (Peterson Institute for International Economics) and "Why economists kept getting the policies wrong" (Financial Times).----------WHERE----------Vurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39XjrAlhambraTube: https://bit.ly/2Xp3roy----------WHEN----------01:02 Two economists write that bond yields are not good predictors of inflation03:20 Bond yields have failed to predict inflation for 70 years in the US; three other countries 05:31 Why economists kept getting the policies wrong08:01 Was monetarism was derailed by poor philosophy? Or because measures of money failed?11:43 Monetarism ditched, so first came currency exchange targeting then inflation targeting.13:26 Positive Economics, econometrics promised wonderful, impossible things 16:11 Central Bankers use mathematics as a shield against criticism18:42 We are back where we started, time to dust off Keynes General Theory.----------WHAT----------Teenagers baffled by rotary phone: https://youtu.be/oHNEzndgiFIBond yields are not good predictors of inflation: https://bit.ly/2Zz7dwdWhy economists kept getting the policies wrong: https://on.ft.com/2ZwAgAwAlhambra Investments Blog: https://bit.ly/2VIC2wWRealClear Markets Essays: https://bit.ly/38tL5a7----------WHO----------Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski. Art by the King of the North, David Parkins.