Buh-Buh-Bye
I wasn't the
only Inaugural Weeper.
~~~
Krugman
points out how the Taylor Rule applies to the current economy. The
Taylor Rule prescribes what interest rate the Fed should use to create the
stimulus (or damper) to return the economy to the correct balance of GDP growth
and acceptable inflation. The reason that fiscal policy is now required
(tax cuts and Federal spending) is that the Taylor Rule says the Fed needs to
cut interest rates down to minus 6%. In other words, the model shows that
the proper borrowing rate to "cure" the economic problem is that you pay the Fed
6% a year to loan them your money (in the form of Treasury obligations).
~~~
I always thought that Longmont was a pretty boring name for a town. Not so
the many English towns, like Penistone and Crotch Crescent.
~~~
Things I Hate About Vista (and what Microsoft is doing about it:
7).
~~~
Buh-buh-bye,
George.
~~~
Der would LOVE
this.
~~~
These are for Cath, who was kidded unmercifully by her children about Benjamin
Buttons:
Oscar nominations came out today. “Benjamin Button” got 13. That’s as many as people who have actually seen the movie.
All of Hollywood is abuzz with news of the Oscar nominations: “The Curious Case of Benjamin Button” got 13 nominations, one for each hour of running time.
If you haven’t seen it you should; it’s like “Forrest Gump” meets “Forrest Gump.”
~~~
Apparently, there was
no Holocaust.
~~~
Jay-Z's great line about where the country finds itself:
“99 Problems But a Bush Ain’t One.”