I see there is a kerfuffle about not including land in the Eggertson and Mehrotra’s “Models of Secular Stagnation“, which should raise the equilibrium rate to be negative. I want to make two comments here as a sticky:
Over at Worthwhile Canadian Initiative, Nick Rowe wonders how much of a deficit would need to be money-financed as opposed to bond-financed. I say it doesn’t matter how you finance the deficit, what matters is the time path of interest rates (which is independent of how the deficit is financed).
I was guided by SRW’s tweet to Charlie Stross’ “A Different Cluetrain“. It’s worth a read, and many have been feeling the same things, although expressions of these anxieties are different among the left and right. Here is my response.
This is a blog describing something very trivial — lack of proper escaping of the single quote (U+0027) in many commonly used string escaping libraries — with very serious side effects (potential for cross site scripting).
- Kudos to JW Mason for describing the regime change in corporate behavior. But I wonder how much of the borrowing is just tax arbitrage (e.g. borrowing to pay a dividend when the firm really earned the extra cash but is hiding it overseas).
- No other way to describe Lenovo’s behavior than this.
- Discussion of Keynesian labor demand
Like the public, I am conflicted about Snowden.
Clearly he’s a whistleblower, what he did required courage, and I have no reason to question his beliefs or motivations. Moreover, his revelations about government surveillance are very important and in some ways necessary for an informed debate about what our government is doing. I am better off knowing what I know. At the same time, we can’t have insiders scooping up mass documents and taking them out of security controls whenever they personally believe that they are serving the public’s interest.
I’ve been reading about the purported GCHQ theft of SIM card keys. The more I read, the more I’m confused as to what was stolen and why.
UPDATE: Here is a better document describing what was stolen. It appears to be large volumes of the K_i, not any master key or other keys.