This is Jacques René Giguère's Typepad Profile.
Join Typepad and start following Jacques René Giguère's activity
Join Now!
Already a member? Sign In
Jacques René Giguère
Recent Activity
Humble I/O guy joins: Nick :"Alpha paper is real physical stuff, that even kids understand. That might make it salient." How long? My father, who founded a Caisse Populaire (a kind of credit union for those outside franco QC) once told me that,in the 50's, when warned that their checking account was overdrawn, people wrote a check and deposited it. Even the most uncultured would not do that today. My little nephews seem to have a rather good grasp of what's behind a debit card. (The 5 year-old once told me that "a credit card is to pay for things and get into debt." And he knew what a debt was. Implications for LT stability of monetary-banking policy? Is the cat condemned to chase its tail?
1 reply
Tapen: the "real market" on Brexit got it so right. Keep me on Team Bedwetting till the fat lady had sung in November...
1 reply
To a Trump voter, the question is not "How dare he insult a hero's family?" but "What traitor accepted a muslim in the Army?" Be afraid,be very afraid.
1 reply
Anecdotes aren't singulars for data but still. I am a fan of warships and I visit everyone I can when there visits. European sailors are noticeably taller than americans. Unless you argue that OS (Ordinary Seaman) OR-2 is an unusually prestige job in Germany compared to the US that it attract upper-class men... I have heard reports that European men (esp. Dutch, Germans and Scandinavians complain that north american hotel bed are too short. On photographs from WWII, it's easy to differentiate men from officers, especially in british troops, as well as distinguishing Americans, Canadians and Australians from various europeans. In his memoirs,French fighter ace Pierre Clostermann, himself from a high socio-economic background (his father was an ambassador) often reffered to his Canadian and Australian colleagues height, which he never mentionned for the Brits. And just try to find a good italian silk ties. Today ties are simply too long but fit just right when Italian men wear them.
1 reply
Eric: monetary instruments are also immediately redeemable in goods and services, the ultimate definition of liquidity.
1 reply
rsj: " It has nothing to do with lending the keys out when you are in Paris." In fact, given the strenght of the reaction, AirBnB might eventually makes very difficult to lend keys to your parents and friends. How do neighbors and authorities diffentiate sharing from outright renting?
1 reply
We are Canadians, eh?
1 reply
I teach macro at very basic level to people who won't become economists, a level suitable from a humble IO guy. I never tell them that recession are about Investment. Saving in a monetary world yes but not I. Collect your blogs in a book. You could time it with Stephen's "Columns written from an airport departure lounge". It would make a nice one-two punch from the best bloggers-colomnists in town. If it's not simple end-of-term doldrum, take it seriously.
1 reply
Even if you are not a wage earner as such, business person or surgeon, moving implies finding a new client base and getting a new life. Is it worth a few tax points? Only the really wealthy, a good lot of them not being wealth creator tied down to a place, go the MF way.
1 reply
One interesting thing about the Everyday sexism project is that the canadian site is in english only. Francophone women won't be heard...
Tom : whether the Reichbank had or not lent to the Weimar gov't in fall 1923 was immaterial. The Franco-Belgian occupation of the Ruhr and the reaction to it made an economic catastrophe inevitable. But that story later provided a good cover for the elite ultimate responsibility in bringing He-Who-Must-Not-Be-Named to power.
1 reply
Nick: sort of. But haven't seem so much agonising as to make such musings basic to deadly debates...
1 reply
"That depends whether you consider future taxes to be a government financial asset. It's not listed "on the books" (it's an "off-balance sheet asset"), but if you ignore it most governments are insolvent." So would private businesses. Bonds are not secured by assets (worthless if the business goes bust) but by shared hopes of future revenues. And nobody even think about thinking whether Ricardian equivalence applies or not. Humble IO guy hopes he is not too OT...
1 reply
Nick: You're right. My old memory is now clicking back to the time I was a student in Blighty. Seems that in self-preservation my brain had blocked all souvenirs of British universities cafeterias. Back to monetary theory.
1 reply
Thanks Nick for giving me the only topic on this thread where I can meaningfully contribute but please do not confuse ketchup and tomato sauce. You can't put sauce on a hamburger nor make spaghetti sauce with ketchup...
1 reply
To make a comparison, when QC instituted the Régime d'Assurance Parentale (Parental leave) they used the Régie des Rentes machinery but the financing was different and there was no commingling of the two programs. To mix the two, as Oscar would say , is more than a misfortune, it's mistake.
1 reply
Eri: beside part or parcels of urban highways,not only did we build the Seaway but the Trans-Canada highway plus plenty of interurban "interstates", a world expo on an "invented island" with its own song http://archives.radio-canada.ca/art_de_vivre/celebrations/clips/201/ https://www.youtube.com/watch?v=DPZKHI8K1YE (peppy version by Donald Lautrec) or a pensive one by Renée Claude https://www.youtube.com/watch?v=mlDuxsLfmLY and enough mega-dams that even more songs were written about them...and survive to this day (a Leonard Cohen cover of "La Manic" in 2012) https://www.youtube.com/watch?v=ra_QM0aV-FQ unless you prefer the original by Georges Dor https://www.youtube.com/watch?v=DZnwNmR1pUQ I lived and grew in that era and the last thing I remember is a lack of faith in the future. I saw schools and even universities built by the day... Hey, a good number of us even try to build a new country...
1 reply
You can read here http://www.quebecurbain.qc.ca/2010/08/30/le-reseau-demesure-dautoroutes-inachevees-de-quebec/ the abomination that was in store for Québec City. We escaped some of the worst but La Vieille Capitale still has more freeway per capita than Los Angeles and even New York...
1 reply
Andrew: I gave a definition of what is a king. Nothing can be more positive than that. No value judgment. End of story.
1 reply
Andrew: the King decides that is is not robbery but taxation. The king decides what is taken as taxation. The king decides in what he will pay you. He is the King. Quia nominor leo. (Only She-who-Must-be-Obeyed has more power...)
1 reply
Andrew: kings can ask for taxes in paper because they can tax a provinice, give the bit of paper to soldiers or paymasters, move soldiers to another province and then buy chickens. Much easier than collecting and transporting chickens. Kings can create paper money not because it is used but because they will use it.
1 reply
Short observations fron humble IO guy: BoC undertakes to devaluate your stock of money by 2% a year. Also promise to increase you flow of money by same %. Canadian Tire is "closing" its system as it move from paper currecy freely transferable by anyone to accounts held on CT computers and usable only at the (increasingly non-)cash register. What effects do you expext on demand, use, etc, of CT money? Am i wrong thinking that CT is moving toward a pure central bank business model?
1 reply
We can finance long-term project with long term "deposits". It's what life insurance companies and pension funds do. And then we force them to mark-to-market and evaluate pension funds managers on a quarterly,even monthly basis. We create market instability out of thin air.
1 reply
Everybody is complaining about credit card fees. Forgetting the stupefying cost of handling, sorting,counting,securing and transporting cash. My family had a store in the '70's. The joy of counting the cash at the end of the, getting out of the store and going to the local bank. Our town was rather calm and we were never robbed (though we had three hold-up. SOme of our colleagues weren't so lucky.
1 reply
Nick: not some chance of collisions. First chaos. Then paralysys. Then , maybe, slowly emerging order. Like trying to figure out who arrived first at a 4 stop corner.
1 reply