Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

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Everything that appears on this blog is the copyrighted property of somebody. Often, but not always, that somebody is me. For things that are not mine, I either have obtained permission, or claim fair use. Feel free to quote me, but attribute, please. My photos and poetry are dear to my heart, and may not be used without permission. Ditto, my other intellectual property, such as charts and graphs. I'm probably willing to share. Let's talk. Violators will be damned for all eternity to the circle of hell populated by Rosanne Barr, Mrs Miller [look her up], and trombonists who are unable play in tune. You cannot possibly imagine the agony. If you have a question, email me: jazzbumpa@gmail.com. I'll answer when I feel like it. Cheers!

Monday, July 4, 2011

Quote of the Day - Fourth of July Fireworks

The GOP seems to no longer be the "party of business", but a mad-dog populist gang that is running around chucking sticks of dynamite in all directions.   --   Noah Smith

OK - a dynamite stick isn't exactly the first thing you might think of when "fireworks" is mentioned.  But it does make a big flash and go "BOOM!"

Happy 4th of July, and remember Independence Day has somethin' or other to do with freedom, as we stumble blindly along - at the behest of mad-dog populists -towards corporate serfdom.

And there's more than a touch of irony here, since the independence of the Fed is just one more thing to be blown up.


nanute said...

Speaking of blowing up the Fed, what do you make of this idea? http://www.nakedcapitalism.com/2011/07/ron-paul-suggests-using-fed-to-end-run-debt-ceiling-impasse.html

Jazzbumpa said...

Hey nanute -

It's been a while - how ya doin'?

I like Yves Smith, but she is seriously missing the boat on all the downside risks of Paul's plan.

I'm not sure Noah has it all right, either, but blowing up the Fed is reckless and irresponsible - just what you wold expect from a clown like Ron Paul.

That the other Rethugs are worse does not make him right, or even rational.

Cheers! (I suppose)

nanute said...

I've been around, just not commenting much. I've been trying to avoid breaking the Abraham Lincoln rule: Better to remain silent...
I think I agree with your assessment on the Paul issue. This seems like an attempt to undo the Fed a piece at a time. Next thing you know, these maroons will be suggesting that we just retire those "non-existent" SSI bonds.

Word verification is hayejc which could be a misspelling of Hayek. Oh, the irony.

The Arthurian said...


Off topic, but I have an idea for a post. It is about a version of the denominator problem, and I know you are big on that. And it is about the justification for fighting inflation the way we do, which is a flawed justification.

I can't write the thing, because it needs a political point of view. It needs outrage. So I turn to you :)

If you're interested, and if you have a copy of Milton Friedman's Money Mischief, in Chapter 8 there is a footnote that identifies the data he used.

What I would ask is that you work through Friedman's selection of data and his calculation, evaluate it for yourself, and see whether you think it is reasonable or a scam.

My views are briefly expressed in this comment. I have more on the subject, when you want to compare views.

I can pass along a couple relevant pages from Friedman if you want.

Jazzbumpa said...

Art -

Intriguing idea. I don't have the Friedman book, but I do have lots of outrage.

I'm up to my eyeballs at the moment. Things should be a lot simpler in August.

Shoot me a reminder at the end of the month. No promises, but I will look at the concept.