Same groups, small staters in trucks vs the city hippies, minus the dead rice farmers plus the dead islamics. Same issue, earmarks do not make change, so we get bigger shifts in pricing more suddenly when priced in earmarks. Then comes devaluation, wash rinse and repeat. The excess volatility of, ex ante, is greater than any philosophical Godot, and it is not changing. The elites have to admit of ex ante chaos and congestion due to local adaptation everywhere, it is likely one of the largest items in the budget.
The inflation tax is how Treasury wins the surplus, this is not changing, so deal with it more often with renewable contract. These are real, ex post losses; quit trying to fake it. The two Nobels, where are they, get them to work.
No comments:
Post a Comment