Some weeks ago, in an editorial about the financial crisis in the main section of this paper, a writer commented
approvingly that: "Our currencies are no longer tied to gold, which means central banks can act to mitigate monetary deflation and interrupt the deadly feedback loop of mounting defaults, declining real wages and prices and increasingly onerous dollar-denominated debt. ...
An exercise in myth-busting
The material world exists in the eternal Present. I was going to write: The real material world exists in the eternal Present, but the word real would be superflous, because there cannot exist an unreal material world.
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Here in America we are descended in spirit from revolutionists and rebels - men and women who dare to dissent from accepted doctrine - GOP President Dwight Eisenhower, 1954
Wednesday, November 26, 2008
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