believe putin's warnings on big tech: perhaps more dangerous than nuclear-armed kleptocracy. noise daily once, google knows if it rounds up to twice. navalny heart signed the kangaroo court plexiglass, "american empire has no gag reflex" and "black seaside dance dance revolution shark tank"
photographed a holiday card for solo decedents. "we're like licorice. not everybody likes licorice, but the people who like licorice really like licorice"
watched perry mehrling weeks eight nine ten
there are two par relationships that we are concerned with here. one is the mint par here, and the other is the deposit par here. by maintaining this par, you sacrifice this one. meaning that the banks were unable to keep their deposits at par with currency and so they closed. there's a run on the bank, that's what that means. people would rather hold currency than deposits. there's a run on the bank and the banking system closes. alternatively you could have abandoned that par. and say we're not going to pay in gold anymore, we're going to maintain this par okay. and we're going to support the banks by being a lender of last resort to them. but you can't do both. you can either be a lender of last resort to your domestic banks or you can defend the dollar's value in world markets. not both, those are opposite policies
the abstraction from liquidity that is so characteristic of economists. economists of all political stripes by the way, this is not a left wing argument or a right wing argument, everyone abstracts from liquidity, everyone..but liquidity doesn't abstract from them. the survival constraint is a real thing and people have to solve this problem every day
find something that doesn't seem right and just keep worrying at it until you can figure it out. just keep worrying at it and eventually, you'll figure it out, or not. but certainly you won't figure it out if you don't keep worrying at it. so, that's a strategy for intellectual production
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