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ha! In the Copenhagen Interpretation, there IS NO underlying reality, all there is the experiment and the math. the experiment is the reality, the math cannot be improved, it gives the right answer, probabilistically. but how? cannot be answered, so pointless asking.
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I'm not so sure. We're in a liquidity trap, meaning there is plenty of cash, at low interest, but private demand is weak, and lending is weak, the banks have no incentive to lend, and the Keynesian fix is for the government to step in with works projects to employ. the first is monetary - the fed - no problem. the second is fiscal, and the republican imbeciles are demanding austerity - the opposite of the Keynesian fix. there is a depression caused by not enough liquidity, prof. krugman's toy model of babysitting coupons. we're not in it.
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Mar 17, 2015