i read this:

“It’s now looking like a reasonable bet that growth will turn positive later this year”
and i find myself slightly delirious

is PK hedging his future scape here ???

where's the ever black clouds
as far as the eye can see bit ??

i acknowlege the hedge

within the hedge

this could be false dawn II

not recovery but sub optimal stagnation

may followeth upon the end of contraction

in 09 quarter 4

but isn't this line
a serious change of atmosphere at least

did some brake in the cloud bank
suddenly roll above the far horizon ???

i'm reminded of his quiet burial of
his ever so emphatic

“there is hardly any noticable speculation

driving the commodity sky rocket

its supply limits and demand expansion”

last year

he needs to announce these turns as indeed turns
and his whale bone sized flubs as flubs

does he did he will he ??

…
“Barry Eichengreen and Kevin O’Rourke have an alarming paper in Vox EU…”

note the far different tenor
of this lead from a few days back at PK's blog

Posted by pinky at 09:17 PM

that fabulous quilt is a dynamic testament
to the intricate ingenuity of k street

all those moving parts
converging to one great purpose

make certain patently taxable outcomes and events disappear like a beautiful lady

what steadfast focus
what lovely hocus pocus

what smoke and mirror excitement

far from discrediting gubmint enterprise
it simply “proves”

the gub system works

albeit

only for its masters of course

the code provides talmudic cover
for biblical illusions

hence the plausible big shot line:

” why mr smurf
we pay more then our fair share

just take a good look

at the tax code

its plain as day brake in kansas

… for example you might take a moment

to check out the statutory rates on personal income …

Posted by pinky at 09:12 PM

i'm a great believer in mechanism design

i'd use a mark up cap and trade on the medical sector
for example

but i'd have uncle sieze the utilities with fossil fuel burning generators and convert em
at maximum speed to something

toxic emission free

far more sensible then pouring zillions into

the fraudster frought free range

paper shuffling

private credit system to mop up their “toxic” rubbish

…

rusty cap and trade per se

the actual permit exchange is no big deal

the aggregate levels set
and the measurement of out put are the big deal

and it seems to me

on controling output levels the cap is obviously direct and a pigou tax open

to fuzz balling modeling and zinko metrics

to determine ” price plus tax elastcity “

the tax requires at least as much physical monitoring eh ???

my sense eliminate the property partitions here
uncle takes the hit up front

converting the equity of these outfits to t bills

and then moves fast with a unified plan

on a system wide scale

rusty
your fear of gubmint fumble-itis

is knee jerk stuff

did you oppose the moon landing mission of nasa
i did

but the american people hardly saw that as a waste

it set a clear goal a technical goal

and went for it

hence the analogue apollo use in the related energy independence movement

too many years
of

red tape removal has discouraged u

this is after all
not the moral equivalent of the moon landing

but its moral superior and by many magnitudes

rj

amplify
reveal the tiger like claws with which you ripped to the boondoggle heart of this proposal

btw
pigou taxes are prefered by corporate

court wizard greg mankiw

that ought to give some of us pause

as to the distribution of the revenue
from selling the permits

—-obviously if we go cap and trade
uncle sells the permits right ???

he doesn't dole as he might mark up warrents

or else we really do get

the corporate whirly gig —-

a check in the mail per capita sounds delightful to me

even if we don't know the substitution effect of the
pricing in this case we don't need to

we got the cap baby it sets the upper bound

btw the penalty for violation oughta be clear
a ball busting fee obviously

but possible fed seizure as well

imagine the headlines
'buffet electric

admits to illicit secret “surplus emissions” '

the 4th estate could whip up
a nation wide

uncle seizure muster

among us ass hole indecently ignorant vengeful voters

beer keg frenzy
pitchfork dreams eh ???

…
“by then it'll be way too late”

how exciting
amerika's gold coasts

crumbling away like the edges of a coffee cake

Posted by pinky at 09:10 PM

one often encounters the randy claim

why determine the characeristics of a state never to be reached in social reality …approached even is not a coherent concept
when the parameters keep changing and the “objects and processes and preferences and …

so why ..is it to grasp a direction

okay ya but that hardly means you need to prove existence of a steady state point let alone its uniqueness
so why ???

well because exploitation of the dynamic sort that fuels capitalism
is gone at the p[oint of steady state

i guess its like heaven where all that nasty shit
that makes earth earth is banished

if all you want is some stylized dymanics
you gotta face the free range profiteer head on

he no longer is always an innovator

a promethean creative disrupter

he's a rent seeker living off the unextinguishable

producer surplus sumps

Posted by pinky at 03:13 PM