Re-Publishing Gilder

Money in Information Theory:
Chapter Six of George Gilder’s The Scandal of Money

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<hr>Surprise is the beginning of wisdom. ~ David Gelernter

To grasp the fallacy of the reigning monetarist creed requires seeing that its baneful effects are not limited to inflation.

The point about bad money is not that it converges with the worth of the paper it is printed on. It is worse than that. Falsifying the information basis of all prices, it stultifies entrepreneurs, deceives savers, and fosters tyranny. With a near-zero-interest-rate policy, the Fed falsely zeroes out the cost of time.

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Let’s do this thing. VILLAGE OF THE DARNED — GRATEFUL EDITION (about 645 PM Eastern)

What time do we do this thing?  I’ll be on somewhat early.  You people who move clocks around all the time just because the government tells you to have confused me again.  I don;t know what time you all do things anymore.

I’ll be on from about 0830 my time.  I will be on early and will have to go early as well.

Update — will take a shower after the wife, so I’ll be on about 0845 my time, which is 1845 Eastern, or 645 PM for those who can’t read a clock.

What are you grateful for?  Besides the string of military victories and deliveries from ruin for which George Washington proclaimed the Holiday.

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Beef and Whine

I am encouraged by the comments on our Radio Free Ricochet post.  I go back and forth on some of the overarching issues on how to handle things at times.  This website well pre-dates its function as a relief valve or safe harbor for Ricochetti.  That is not its manifest purpose, but it is a welcome opportunity to take care of friends.  As such, we’re not founded here on complaining about others.  This is not verizoneatspoop.com, which was a real website years ago.

One thing that most of us do have in common is a set of viewpoints or an approach to discourse which is not exactly welcome over there.  This is more than an accident — we are largely self-selected for this trait.  Yet it is not … Continue reading

Radio Free Ricochet

Well, here it is.  Claire Berlinski, an editor-at-large over at Ricochet.com, has written a post describing her dissatisfaction with Trump, and detailing the reasons why she won’t discuss her book.  But she won’t discuss the reasons for her dissatisfaction with Trump, arguing that it takes a book.  That’s right, no way to summarize the argument in a way that preserves its essence.  You’ll just have to read the book to find out what’s in it. Fair enough — this is book sales, not legislation.  At the same time, I think that discussing a book too much can discharge the creative tension, essential in non-fiction just as much as in fiction.  So there are good reasons to shut up about one’s book, even to financial backers.

Yet she takes … Continue reading

Rush is Wrong on the Bubble Tax

I haven’t seen the tax bill, haven’t even read any facts about it, so I am just responding to Rush Limbaugh’s opening bit on his Friday show.  He describes the structure of the tax in question as this: the first $45,000 of income gets taxed at a very small relief rate.  Then money after that gets taxed at a higher, normal rate.  More rates may ensue, I don’t know, and then when you are above a certain threshold, your tax rate is 39.6%.  That is the top proper bracket.  Then a funny thing happens: your millionth dollar of income, however that may be defined, will be taxed at a penalty rate which is 6% higher, so 45.6%.  Let’s call these 40 and 46 just for convenience.  You … Continue reading

Please Do Not Hotlink

Please use the media library here to post images, even in comments. Hotlinking is using an image from another site without the common courtesy of stealing it proper. Hotlinking not only uses somebody else’s property without their permission (let’s call it fair use), but then steals bandwidth by calling the image from their site every time a visitor here loads the local page (minus cache, etc). Nobody here profits from such use, and I assume fair use by all posters here, an assumption which I also graciously extend to myself. Thank me. I’m welcome. I still reserve the right to do Amazon links or some such thing, but even then I won’t profit from the presence of somebody else’s images. “Money” posts will be squeaky clean. Note that … Continue reading

Town Hall Meeting in the Village of the Darned — 7:30 PM Eastern

O ye! O ye!

It’s that time of the week again, when we connect for another town hall meeting in the Village of the Darned.

Jam a topic in the comments below and let people read up if you like.

If the software tells you that you’re the only caller, don’t you believe it!  Press on with the access code and you’ll probably find us in there!

US: 515-604-9908

Access Code: [see chat in “BDB Chat” tab above]

Select International Local Dial-in Numbers

Japan +81 3-5050-5104
Switzerland +41 43 550 70 62
United Kingdom +44 330 998 1256

If you need a different number (calling from Botswana, say), let us know in the BDB Chat.

Dig:

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Proposed Topic for Village of the Darned

I’m thinking about the efficacy of Bannon’s “war on the Establishment”.  Looks like the combination of Trump and Bannon’s bad cop / bad cop routine has casued a new day to dawn upside Mitch McConnell’s head.  I don’t believe it for a minute, of course, which is why I support the war on the Establishment.  IMHO, to call off the dog now would be to fall for Mitch & Paul’s patented Charlie-Brown-football trick.

That’s what I think.  How about you?  I’ll do some reading and YouTube viewing on the matter.

See you there!

Oh, and I’ll be there early — and sober, darnit.  I have a meeting

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The Storm of ’17

Either Dime or I will soon get about a face full of ocean.  Big storm coming this way.  Still almost a week out, so low confidence in particulars of the forecast, but this is going to be a supertyphoon with 60-ft seas, mercifully while it is close to absolutely nothing.  It will weaken to a “mere” typhoon before it gets here.  but it will very likely get here in some regard.

Weinstein Takedown is Clinton’s Final Warning

I keep seeing the question asked, “Why now for Weinstein?”  The New York Times went after him and the Great Wall of Media is crumbling.  The allegations are not new, and there are some big, popular names behind some of them.  Crusading UN globe-trotter Angelina Jolie, for instance, could have made this “a thing” on her own if she had set to do it — years ago.  So why now?

I think it’s a shot across Hillary Clinton’s bulbous bow.  While Democrats are split about Clinton, one thing they all have in common is that they were all wounded when she did not win in 2016.  The New York Times certainly love them some HRC, but these things are relative.  The Times endorsed Clinton for President in the 2008 … Continue reading