– As I’ve said before: "If we scrape away the econo-speak, we find that nominal GDP targeting is simply code for ‘let’s stop worrying about inflation and crank up the printing press, baby.’"
– Here’s a post from David Henderson on regulation. He notes two things: 1) Greenspan wants to scrap Dodd-Frank because parts of it don’t work; and 2) the SEC has explained that it intends not to enforce part of Dodd-Frank. What’s interesting is that neither Henderson or Greenspan draw the obvious conclusion: part of the law has already been effectively repealed by the SEC. There’s no need to have Congress repeal anything, the bureaucracy has already done so.
– Buckethead: "Just to be contrarian here for a moment, what if the new technology does not result in further democratization and libertarian society fertilization?"
– I’ve written before that I don’t think there’s a college education bubble – at least not in the high end. This chart shows that college grads make about $10,000 more per year than those with only a high school education. The present value of a college education then, is about $200,000 (assuming a 5% discount rate). It shouldn’t be surprising that colleges want to take a big chunk of this from their students.
– In praise of silence and boredom: "Salvation is possible. Reverse the polarity. Become a quiet-aholic. A noise-ophobic. Bind yourself to the mast such that you may hear the Sirens’ song without succumbing to its allure. The Sirens are not without their charms and increased communication is a net good, but the application of that good is often the opposite. Abjure the elites and the shackles they seek to impose, allow your imagination to flourish rather than atrophy, and relish in a bit of boredom."
– "Modern states manipulate and transform onetime members of families and communities into fragmented subjects addicted to state control. In the name of equality, political authorities reshape the moral development of increasingly isolated individuals." From a book review (HT: here).
– "The Gap" is biggest in DC
– In unrelated news, here’s a list of crimes committed at DC schools during the last couple years. It makes for interesting reading.