vimothy
yurp
Just read about that on Bloomberg actually. Weird. And incoherent. Does the guy even know what "saving" means? I note that he's Asia chairman of some iBank though. Hey ho.
Re the end of "fractional reserve banking", Sumner will presumably do back flips. Either that or just ignore it and pretend that it doesn't mean anything. I don't understand how he clings to his belief about reserves determining the money supply. It's really bizzare.
Hey, one thing that bothers me: what the hell is that NGDP futures thing that Sumner is always going on about? I suspect that it's gibberish but I've never been able to make enough sense of it to tell for sure.
Re the end of "fractional reserve banking", Sumner will presumably do back flips. Either that or just ignore it and pretend that it doesn't mean anything. I don't understand how he clings to his belief about reserves determining the money supply. It's really bizzare.
Hey, one thing that bothers me: what the hell is that NGDP futures thing that Sumner is always going on about? I suspect that it's gibberish but I've never been able to make enough sense of it to tell for sure.