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Jacques René Giguère
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So GB Senior used all the good genes and left nothing for his sons?
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Military justice is to justice as military... is to...
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Why buy an index fund? The most indexed fund possible is the whole GNP. That's why glopoutnik (sorry CB) should buy the least particular asset, gunmint bonds when things are good. So that gunmint can buy things to give to people (don't call it fiscal policy it would frighten the horses) or cut taxes (I am old, Nick, but the american custom of immediate tax rebate is swell). And we do it through gunmint because people would not understand a "bank" giving money because we have still not changed the letterhead to "Glopoutnik of Canada" even less to Glopoutnik Nationale de Suisse (there is seemingly no word in german for that concept. Maybe no possible word...)
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"Leftists believe that capitalism overproduce pollution." Oh where are thou my Pigou when I try to explain that taxes on pollution were once the epitome of capitalist conservatism...
I can,t do better than Bill. Glopoutniks ( unfortunately called Central banks because tradtion and people not understanding they are not banks)) are nwe devices, less thsan two centuries old. They were not invented for a goal according to a theoretical construct (unlike spoutniks). They were a typical british muddle through (the 1825 crisis). Nobody knew they would be needed later. Nobody kbew they would have to stop being a "bank". Nobody thought they were inventing a new thing that needed a new non-confusing name. Sometimes whorfism rule: the word define the thought. People say Central bank but think bank, see Banque Nationale de Suisse. Those who were the first to need and invent one, the Bank of England and its offshoot in the former Empire , being the first, are now the most advanced in their thinking. It will be a long and hard slog. Like the Reformation-Counter Reformation that convulsed Europe for three centuries. Like the similar convulsion of another large religion now. In the end, people will understand but a lot of damage will be done by the Landsknehts. Coffee has not yet kicked in so sorry for the rambling of a humble IO guy.
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greg: busy schedule. I'll try.
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greg:I like AMScientist. In the days before blogs, when letters to the editors were screened and few were published, I had one there showing the analogy and similarity between the equilibrium in the electric grid and the way airlines send you through weird connections (for once, my dual nature physicist-economist being useful.)
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Nick: don't confuse American Scientist, http://www.americanscientist.org/ the journal of the Sigma Xi Society with Scientific American, a shadow of its former self. The article was a modelization of how increasing inequality leads to markets crashing due to lack of distributed purchasing power. Somewhat analogous to a predator so efficeitn it kill all its prey then die of hunger.
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greg: this seems like an article I saw in American Scientist, years back. I'll try to find it but I am on the raod for a few days so maybe no result.
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Nick: oh no! not the return of the kinky demand curve?! Vade retro satanas said the humble I/O guy...
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Compared that with the nearly 68000 trucks captured from the British at Dunkirk. Which let the Heer limp along as the least motorized of all great powers and overlook the dismal german industrial production record compared to their adversary. As J.K. Galbraith showed in his classic October 1946 Fortune magazine article "Germany was badly run."
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Asset, like liabilities are on a spectrum. On a balance sheet, they are ranked by liquidity and its counterpart exigibility. You can even move the dividing line. When Air Canada discovered that Aeroplan points weren't a liability to be redeemed (that is putting obstacles to their redemption so as to never pay them) but a marketing asset that could be sold... (the Milton maneuver)
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" the first generation to start money is better off too (much better off, because it gets the transfer when old but makes no transfer when young.)". Much better off but they invented a useful scheme. It's their just compensation. Asset of noone? Maybe but asset of everyone. It's a useful scheme. It has value and so is an asset. To everyone as a network. Musing of a humble I/O guy hoping he is not making a fool of himself...
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Canadians were merely liberating the Netherlands...
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Nick: I was unclear on my astute student question: one mechanism is efficient another isn't (which I knew, after all not for nothing Brad De Long follow me on Twitter...). Her point is : is 2% objective different? (And I think she knows anything done in Venezuela will be a comedy, that is tragedy plus time.)
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Patrick: not the first time the mayor of the palace usurped the throne. http://en.wikipedia.org/wiki/Iznogoud
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Humble I/O guy joining late and hoping to be not that irrelevant... Marxism influential? Maybe among those without influence. Being influential among sociologist or litterature majors is about as funny as those Joan Collins mini-series where she fought nazi war criminals by opening a haute couture shop. Passing a law where prices must rise by 2% a year? If one of my most astute students ask me what's the difference with BoC having a 2% inflation target, what is humble I/O guy supposed to answer?
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"Those who make evolution impossible make revolution inevitable". John XXIII Like in the '30's, the "responsible centrists" will indeed be responsible for the extremism to come.
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See John Mosier "http://www.amazon.com/The-Blitzkrieg-Myth-Strategic-Realities/dp/0060009772"
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Robert Weiler: "most french soldiers were on foot." The germans were the least motorized army of all great power. They were still using horse carts in 1945. Zanthras:" I was thinking more in September 1939, when Gamelin was too chicken to invade Germany " Gamelin did invade germany in September 1939. And met the same minefields and Westwall which stopped Patton and caused thousands of american casulaties.
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Correction "will be kind to me"
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Claudius: the French did not "disperse" their tanks. They had twice as much as the Germans and used their FT-17 for infantry support. French tanks were faster, better armed (even a FT-17 from 1918 had a gun 8 times more powerful than a german MK 2), more thickly armoured (with sloped armour making it even more efficient). Most engagements between tanks were french victories such as Gembloux, Hannut or Montcornet. The french fortifications played their role which was to redirect any german attack toward the belgian plain were the french superiority in armor would tell. The germans did the exact same thing : the Westwall where the Allied were blocked for months in the fall of 1944 and the Ostwall which no westerners could see as it layed in Soviet -occupied Poland forthe duration of the Cold War. Churchill order to the undefeated BEF to break rank, to the absolute dismay of both officers and troops, opened the front. Then Churchill blamed the Belgians. The same Churchill who had sent Turkey to the german side in 1914 by stealing 2 of their warships and designed the Gallipoli catastrophe. The same Churchill who ordered the fratricidal attack on the french fleet at Mers-el-Kebir thus stopping cold the rallying of french troops to De Gaulle and legitimizing Pétain. The same Churchill who squandered Allied power in the absurd italian campaign. As he said, "History will king to me as I shall write it." Which he did by keeping control of both British and captured german archives.
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The legends are true. Once, giants roamed the Earth. But now, we are so small.
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Avon:"Every generation has perceived the limits to growth that finite resources and undesirable side effects would pose if no new recipes or ideas were discovered." From the Mayas and the Pascuans to the modern Fox News civilisation, no they don't. "And every generation has underestimated the potential for finding new recipes and ideas." Whether you under or overestimate,the first paragraph is the operational one.
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The french also didn't realize that Churchill would, to the dismay of officers and men, order the BEF to break rank between the French and Belgians, making the opening the Germans used.
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