Tuesday, November 1, 2016

Sounds like a stable fixed point to me

Jared Bernsein spouting the usual Magic Walrus assumptions. "Assuming everyone agree to make my left and right equations agree"

The government distribution is skewed, Jared, by law.  California has a different Magic Walrus, our Magic Walrus is protected by law, as is the Texas and Mexican Magic Walruses.  You got a unique Magic Walrus back there in the Swamp, fine, but it is not our Magic Walrus.  You wany all our Magic Walruses to coordinate? Do this:

import tradingpit as Pit
Pit.boss = MagicWalrus
Pit.coin = USTaxDollar
Pit.run_the_queues()

And create a Pit boss that can trade various government programs, be sure to price time o the graph, and organize according to program cost.  The state government will organize sonthat their program deals are significant, and appear over a short path.  Make the path cost very close to tax cost.  Get it?

Jared: For years, macroeconomists thought — many still do — that fiscal policy is ineffective: The lags are too long, the process is too corrupt, there are no multipliers to speak of. I don’t deny the process is screwed up, but that’s a self-fulfilling prophecy of sending politicians to D.C. who argue that government is broken and promise to keep it that way.

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