tag:blogger.com,1999:blog-913439.post8529655316427559900..comments2024-02-26T11:30:05.072-08:00Comments on winterspeak.com: More on the yield curve, and Greecewinterspeakhttp://www.blogger.com/profile/13611241702356475764noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-913439.post-32599578116910532122010-05-28T15:24:30.924-07:002010-05-28T15:24:30.924-07:00I liked Anon's phrase "anti-analogy"...I liked Anon's phrase "anti-analogy" - <br /><br />"BTW I remain completely uncomfortable with the gold standard “anti-analogy”, for reasons of operational detail relating to the gold standard"Ramananhttps://www.blogger.com/profile/11123448543333785121noreply@blogger.comtag:blogger.com,1999:blog-913439.post-15871284853371622242010-05-28T14:08:46.634-07:002010-05-28T14:08:46.634-07:00LOL! Anon is positively Teutonic in his fixation o...LOL! Anon is positively Teutonic in his fixation on the formal rules, and inability to acknowledge that the informal reality actually gives you a better description of reality.<br /><br />Maybe he's Angela Merkel? No -- she eventually saw the light!<br /><br />He raised a good point that MMT should be more careful about the is/ought distinction. But the MMT "is" is closer to reality that his.winterspeakhttps://www.blogger.com/profile/13611241702356475764noreply@blogger.comtag:blogger.com,1999:blog-913439.post-21385741179891304862010-05-28T13:59:33.851-07:002010-05-28T13:59:33.851-07:00Marshall confronts Anon here http://bilbo.economic...Marshall confronts Anon here http://bilbo.economicoutlook.net/blog/?p=9956&cpage=1#comment-6610Ramananhttps://www.blogger.com/profile/11123448543333785121noreply@blogger.comtag:blogger.com,1999:blog-913439.post-38081160313617887502010-05-27T09:03:08.369-07:002010-05-27T09:03:08.369-07:00The Continentals certainly take a very different v...The Continentals certainly take a very different view of written rules than "Anon"!winterspeakhttps://www.blogger.com/profile/13611241702356475764noreply@blogger.comtag:blogger.com,1999:blog-913439.post-1336200577389733952010-05-27T08:44:52.982-07:002010-05-27T08:44:52.982-07:00Hey Winter,
Lots of unwritten rules out there ! P...Hey Winter,<br /><br />Lots of unwritten rules out there ! Plus lots of rules which can be used to break other rules! <br /><br />This article http://www.ecb.int/pub/pdf/annrep/ar2009en.pdf - the annual report talks of some fiscal issues in Section 2.5 (Page 71 onward). It talks of "deadlines" for countries and many of them have deadlines as close as 2012. The question that immediately arises is "What if the deadline is not met?" but I do not know the answer to that. <br /><br />There seems to be some provisions in the Stability and Growth Pact on imposing fines on the members but I don't think they have used that yet because lots (most?) countries have broken the 3% deficit and/or the 60% public debt rule!Ramananhttps://www.blogger.com/profile/11123448543333785121noreply@blogger.com