Stuff
August 30, 2012 3 Comments
- I’m pleased to see Before Midnight in the works. I hope they keep doing these things every 5-15 years till they’re both in their 80s. Before Bingo? Before Early Bird Hour? Before Dialysis?
- The importance of the difference between reserves and excess reserves.
- Via Mark Thoma I hear that ‘It Is Mathematically Impossible for Romney to Keep His Tax-Policy Promises’. This is gonna be a problem if he is elected because obviously the government will move to immediately implement whatever ‘tax policy’ his campaign threw up onto his website lock stock and barrel when he is sworn in as President – as required by the U.S. Constitution – but apparently will fail (because it’s impossible), and then I can only assume the universe will implode under the weight of the logical contradiction. Please, don’t let the universe implode; don’t vote for Romney.
- Are they having a the (R) convention soon? Please let me know when it’s gonna be on because I sure don’t want to take care not to miss it. I can’t wait to see who wins. (I’m rooting for LAMAR! I hear he is a working-man who wears flannel). Will it be aired after the Olympics come on?
Wait, so the difference between prices now and inflationary Doom is how much interest the Fed pays the banks in their ‘excess reserve’ accounts?
Fractional reserve banking is nothing but legal theft.
I don’t know if it makes a difference, but I think some people think it does. Regardless, it would give us all comfort, I think, if we could have more confidence that all decisionmakers involved understand the difference between reserves and excess reserves.
Indeed, to use Moldbug’s analogy, our banking system is a busted Cuban 50′s Chevy truck, belching black smoke and leaking oil.. I guess now we only employ bankers who don’t have the ability to fix it anymore. They do great at getting paid and appearing to help though.