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    • He won’t do it
      He makes too much money selling Florida condos to pregnant Russians who want their kids to be American citizens:
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    • What Negative Interest Rates Mean And What We Should Do
      Alright, so Germany has now introduced a zero interest bond. That means, given inflation, people will get back less effective money than they started with. At this point, outside the US, the average interest rate is negative. As Stoller pointed out, that means that people with money can’t figure out anything productive to do with […]
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Eucatastrophe is Greek

A eucatastrophe is a term and plot device invented by JRR Tolkien. It means something that happens in the story that at first looks very bad, like, Merry and Pippen being captured by the Orcs and taken off to Isengard. That looks like a it could have ended the book right there. Merry and Pippen fall into Saruman’s hands and he either holds them hostage until they cough up what they know about the ring or he sends them to Sauron. Either way, there would be no battle of Pelanor Fields. Ooo, there’s another eucatastrophe when Theoden falls to the Nazgul but then Eowyn kills it anyway.

So, the point is, in each of these cases of catastrophe, the actors see a way thru the disaster and change the course of the story for the good of many.

We should keep this in mind because the Greek crisis is a perfect opportunity to change the course of economic history, provided the actors look for a course through the disaster to act for the good of many instead of the selfish demands of a few.

in any case, when the dust settles, we will know who is on our side and who is working for the small evil group who thinks it runs the world and to which no one we personally know belongs.

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