A Comment About

Two Trillion and Counting: The Fed and the Magma Chart

August 13, 2010 - 12:09 am - by Ira Stoll
Professor Guvinoff
2010-08-13 22:59:12

I undertook to read the document. One does not need to read the whole thing to recognize that it’s like mathematics in reverse, with a surplus of axioms and a deficit of theorems. It amuses, but does not convince. It’s always about prices, and never about values, which is precisely how the cynics look at the world. I have never received money from a customer who did not value my product. The notion that the economy would run away, out of control if the government did not collect taxes smells like a bovine product of some fertilizing value, I suppose, but which does not command a high price, at least I hope not. But who knows? Perhaps it is traded on the commodities exchange market in Chicago, and avidly argued in the corridors of Washington? Good luck at the polls!