Author: Stable Genius

I am the very model of a Stable Genius Liberal.

Moment of Truthiness

Moment of Truthiness

Do people like Mr. Cantor or Mr. Paul know that what they’re saying isn’t true? Do they care? Probably not. In Stephen Colbert’s famous formulation, claims about runaway deficits may not be true, but they have truthiness, and that’s all that matters.

And please stop saying both sides are just as bad. MSNBC is not reporting we are running a surplus. The NYT isn’t reporting there is no deficit. Its isn’t the same.

James Clapper, who lied to congress; will pick panel to review if he is lying to congress

James Clapper, who lied to congress; will pick panel to review if he is lying to congress

In practice — not theory — Clapper gets to chop the draft of the interim and final reports, and the Office of the Director of National Intelligence would — again, in practice — assist in selecting the members of the review group

How is this in any way oversight?

Why Did Milton Friedman Think a Modern Economy Needed Heavy-Handed Government Regulation in the Liquidity Services Industry and Nowhere Else?

Why Did Milton Friedman Think a Modern Economy Needed Heavy-Handed Government Regulation in the Liquidity Services Industry and Nowhere Else?

he was confident that someday he or somebody else–maybe even me–would find a good, concise, convincing way of proving the point that a modern economy needed very heavy-handed government intervention in regulating the commercial banking industry but nowhere else. It was, he thought, something about the social waste of unnecessary bankruptcy, the catastrophic consequences of bank failures, debt deflation, and the fact that the price of liquidity services was intimately tied up with the units of account that we used to denominate our web of debt.