Author: Stable Genius

I am the very model of a Stable Genius Liberal.

The dangers of being wrong on Keynes

Keynes — and others who later elaborated on his work, like Hyman Minsky — taught us that although markets are usually self-correcting, they occasionally enter destructive feedback loops in which a shock to, say, the financial system scares business and consumers so badly that they hoard money, which worsens the damage to the system, which… Continue reading The dangers of being wrong on Keynes

A Pop-Up Paris Picnic Is Coming to New York

For the first time, New York will have its own Dîner en Blanc, on Aug. 25, rain or shine. A thousand people — half invited, the others drawn from an online waiting list (newyork.dinerenblanc.info) — will participate in this refined flash-mob feast, at an as-yet undisclosed location in Manhattan. From NYT Interesting.

Getting to Crazy

the modern G.O.P. fundamentally does not accept the legitimacy of a Democratic presidency — any Democratic presidency. We saw that under Bill Clinton, and we saw it again as soon as Mr. Obama took office. As a result, Republicans are automatically against anything the president wants, even if they have supported similar proposals in the… Continue reading Getting to Crazy

America’s creditor identifies its budget problem

The chief of the General Staff of the People’s Liberation Army, Chen Bingde, told reporters he thought the U.S. should cut back on defense spending for the sake of its taxpayers. He was speaking during a joint news conference in which he traded barbs with visiting U.S. counterpart Adm. Mike Mullen. “I know the U.S.… Continue reading America’s creditor identifies its budget problem