Monday, February 13, 2006

Federal Reserve

Warshie, you're gonna do a heckuva job!

5 Comments:

Blogger RaginCajun said...

Wow. A guy who helped fuel the internet bubble on the Fed Board. Irrational exuberance indeed.

Granted the economy is not all about models, and a perspective from a non-economist might be helpful. But, equally useful, how about someone from at Lit Crit Department who can talk about the patriarchal phallicism that reacts with a castration complex when faced with a declining yield curve? Or, how about a non-academic, non-Wall Street type, like the bulimic cookie monster?

We deserve competent folks working for us. This is truly worthy of freebooting.

10:35 PM  
Blogger Jeff said...

The Ragincajun reacts with typical corporatist territorial hostility when an average Joe like Kevin Warsh threatens to storm the ramparts of mandarin finance and raise the dingy flag of the common man.

J'accuse, Ragincajun!

9:42 AM  
Blogger RaginCajun said...

Perhaps the Carswell principle applies here, and just as the mediocre deserve representation on the Supreme Court, they deserve representation on the Fed.

12:01 PM  
Blogger Germanicu$ said...

If it would please the cajun, we average Joes request that he deign to descend his crystal staircase and explain the Carswell principle. This may be common parlance in the erudite circles he keeps, but my efforts to source such a principle were futile (unless you're talking about the impact crater in Saskatchewan: http://en.wikipedia.org/wiki/Carswell_crater )

Might it be posited something like this: "the Carswell principle states that the instituions of a representative democracy should contain as proportional a distribution of unqualified morons as exist in society at large"?

11:19 AM  
Blogger RaginCajun said...

G-man,
My apologies for obscurantism. Would that I had a crystal staircase to ascend, much less descend. Carswell was a gloriously unqualified appointee to the Supreme Court appointed by Nixon. One of Nixon's hacks in the Senate defended the Carswell appointment by saying something along the lines of "What's wrong with mediocrity? Don't the mediocre deserve respresentation as well?"

You've shown your superior intelligence and intuition by a dead-on summary.

Again, I am humbled and chastened, and will endeavor to avoid needless (that is, when it doesn't serve my purposes) recondite references.

7:44 PM  

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