Wednesday, November 12, 2008
Sunday, November 02, 2008
Saturday, October 18, 2008
This anecdote by Thomas Bernhard resonates with the current crisis. This was the first I've heard of him.
Friday, October 10, 2008
George Soros on the advantages of the Danish mortgage model
I like this as much as the Swiss mortgage model.
Friday, October 03, 2008
The next four years are in his hands
The black and white gives a patina of timelessness, don't you think?
Customers as investors
A restaurateur funds expansion from future customers. A principle of accounting is that costs should be matched to the period of benefit, and this mechanism works on this level. One risk is that enthusiastic customers might use their Comfort VIP cards too quickly, before the working capital represented by VIP Card balances can be replace from retained earnings.
Thursday, October 02, 2008
Sunday, September 21, 2008
If anyone has a French translation of Black Angel's Death Song, I would like to see it.
So far I have:
La myriade de choix de son destin
Set d'eux-mêmes sur une assiette
Pour lui de choisir
Qu'est-ce qu'il a à perdre
Pas un fantôme ensanglanté pays
tous couverts de sommeil
...
I like the twist of the meaning in line four from "What had he to lose," to "What he has to lose."
So far I have:
La myriade de choix de son destin
Set d'eux-mêmes sur une assiette
Pour lui de choisir
Qu'est-ce qu'il a à perdre
Pas un fantôme ensanglanté pays
tous couverts de sommeil
...
I like the twist of the meaning in line four from "What had he to lose," to "What he has to lose."
Sunday, September 14, 2008
Friday, July 18, 2008
I do not understand what it is about Al Gore that gets up the nostrils of the Cafe Hayek bloggers. Both Russ Roberts and Don Boudreaux are bright guys, but if Al Gore is involved, the quality of their arguments plummet.
In this particular story, we see Russ Roberts, a professor of economics, praising this line of reasoning:
The conclusions are not supported by the premises. There is no evidence showing a necessary relationship between the Al Gore proposal and the Pickens Plan that would permit the cost of one to be used to compute the cost of the other. Russ Roberts would never let such logic-chopping go by in a student paper - would he?
In this particular story, we see Russ Roberts, a professor of economics, praising this line of reasoning:
- Al Gore proposes a national goal of generating all U.S. energy from renewable sources.
- The Pickens Plan is to generate one-fifth of U.S. energy from wind, natural gas, and biofuels, for an investment of one teradollar.
- Therefore, the Al Gore proposal will cost at least five teradollars.
- Bonus point: The Al Gore proposal is as fanciful as a lunar casino.
The conclusions are not supported by the premises. There is no evidence showing a necessary relationship between the Al Gore proposal and the Pickens Plan that would permit the cost of one to be used to compute the cost of the other. Russ Roberts would never let such logic-chopping go by in a student paper - would he?
Monday, April 07, 2008
Thursday, April 03, 2008
Friday, August 10, 2007
The Mortgage Bust
Excellent essay about the impact of the Mortgage Bust of 2007
"Safe as houses" is an English proverb. What happens when houses are feared?
The camels march.
“The history is that lenders move in great caravans between two extreme points, which we can call stringency and accommodation,” said Mr. Grant, recalling how hard it was for companies to get loans as recently as 2002.
Sunday, April 01, 2007
Instapundit.com -
Glenn Reynolds complains that a CNN reporter is not a lickspittle.
Update:
Will Glenn Reynolds will rely less on Drudge? To ask the question is to answer it.
Glenn Reynolds complains that a CNN reporter is not a lickspittle.
Update:
Looks like Drudge got burned, as, to a lesser degree, did those of us who relied on him.
Will Glenn Reynolds will rely less on Drudge? To ask the question is to answer it.
Saturday, February 10, 2007
Wednesday, January 31, 2007
British Calendar Act of 1751 For The Year 1752
For years I have wondered what happened to rents, interest payments, etc. that fell due during September 1752 in England. That was the month when England converted to the Gregorian calendar, at a loss of eleven days.
Did tenants see the landlord come around eleven days early? Did someone who lent overnight on the 14th collect eleven days' interest? Did youths attain majority eleven days early?
Here is the text of the Act of Parliament. The members legislated that all such rents, annuities, sums of money, leases, etc., on the same Natural Day "in case this Act had not been made."
That was sensible.
For years I have wondered what happened to rents, interest payments, etc. that fell due during September 1752 in England. That was the month when England converted to the Gregorian calendar, at a loss of eleven days.
Did tenants see the landlord come around eleven days early? Did someone who lent overnight on the 14th collect eleven days' interest? Did youths attain majority eleven days early?
Here is the text of the Act of Parliament. The members legislated that all such rents, annuities, sums of money, leases, etc., on the same Natural Day "in case this Act had not been made."
That was sensible.
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