Monday, July 27, 2009

Bernanke: if you let the elephant fall, all the grass under it gets crushed. -In answer to a question employing the metaphor of brush fires felling behemoths to make way for undergrowth. In other words, the small business undergrowth must feed off the nutrients of dead behemoths. But those behemoths were toxic.

Bernanke's appeal: "We need a structure." Perhaps this is a point upon which the Ron Paul faction might be negotiable. -But the structure must have interest-immunity (i.e. not available to factional stratagem) so that it is something with which BIS, for instance, can be trusted.

Interest immunity: a metaphysical impossibility?

No comments: