Current Account Deficit: Still Not Debt
Don Boudreaux, GMU Economics department head, explains this with a very simple example. He also makes fun of Warren Buffet, which is always nice to see. Remember kids: Making money in arbitrage is very different from understanding what the current account imbalance means.
Wow. I hope that isn’t par for the course…
Brilliant!
This isn’t exactly on topic, but I couldn’t help but laugh hysterically at a picture in yesterday’s Register-Guard sports secton.
http://us.news2.yimg.com/us.yimg.com/p/ap/20050306/capt.fljc11203062336.doral_fljc112.jpg
Check it out, I found it funny, but i’m immature.
Damn I never thought of it that way. Im just glad im buying more concrete assets than the dollar!
Was still in the office. 5:00 is quitting time only in some vague metaphorical sense.
Class. What’s your excuse? Isn’t it 5:30 in Texas?
Man, I’m disappointed in your comedy stylings these last few minutes. Why aren’t you at the bar?
What did the pedant say to the pedarast?
Oh, I forgot that one, too. Dammit.
Fine, I fixed it. Fine. Pedant.
I like my way better…or something.
Heh. Reminds me of the best joke ever…
Q: What did the arbitrageur say to the albatross?
Fuck, I can’t remember the punchline. It’s good, though, I swear.
Also: “remember.”